If you are looking for commercial lease solicitors in Devon, Somerset or the south west, then our team is here to help.
We deal with commercial leases throughout the south west and beyond, working on behalf of both landlords and tenants. This is a short summary of what this usually involves.
When a tenant agrees to take a lease of commercial property they will often do so through commercial property agents. Negotiations will generally take place, with “heads of terms” then being agreed. Those heads of terms will form the basis for the preparation of the lease.
Once our team has been instructed, we will liaise with the solicitors who are representing the other party in the transaction.
It is the landlord’s solicitors responsibility to provide a copy of the title to the property, along with replies to pre-contract enquiries and a draft lease.
When acting for the tenant, once we have received the papers from the landlord’s solicitors, we will undertake all the required searches (such as local authority, highways and environmental searches) and seek clarification of any queries, including issues arising in response to the landlord’s replies to pre-contract enquiries. When we are happy with the title and documentation we will then prepare a report for our client on the key terms of the lease.
Assuming the parties are in the position to proceed, the lease will then be executed, ready for completion to take place. On the day of completion itself, the lease is dated and the commercial property agent will authorise the keys to the premises to be released to the new tenant.
Following completion various procedural steps will need to be taken. This often includes registering the lease at HM Land Registry and dealing with stamp duty land tax payments.
So, if you are looking for experienced commercial Lease Solicitors in Devon, Somerset, or beyond, then Slee Blackwell will be delighted to assist you.