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Commercial Property Law Advice

Last post 15 Jul 2007, 10:25 AM by ASG. 2 replies.
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  •  10 Jul 2007, 12:10 PM 302136

    Commercial Property Law Advice

    Hi Everybody

    I am a commercial property lawyer of many years standing and I'd be glad to answer any legal questions you may have in relation to property investment, finance, development or leases.

     Best wishes

     ASG

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  •  14 Jul 2007, 11:18 AM 304931 in reply to 302136

    Re: Commercial Property Law Advice

    HI ASG

    Im about to complete on a commercial property with existing tenants in. Is there anything I should look out for? ie: tenancy agreements, leases etc.

    Thanks

    PB


    Do or do not, there is no try!
  •  15 Jul 2007, 10:25 AM 305132 in reply to 304931

    Re: Commercial Property Law Advice

    PB

     I assume that you have instructed a solicitor to advise you on the purchase but if you are buying a tenanted property as an investor you should be looking to see that there is a lease in place with the tenants.

     You should also be looking at (amongst others) the following points:

     1. Make sure there is no Tenant's break clause that could mean the lease could be terminated early and leave you with a void.

    2. Make sure there are no gaps in the repair obligation. For example if the properties are let on an internal only basis that there is a service charge to recover the cost of external repair.

    3. Rent Reviews. Make sure the rent review mechanism works.

     4. Assignement and Underletting. Check what the Tenant is permitted to do.

     Obviously the points to look out for will vary depending on what has been agreed. If you have not instructed a properly qualified solicitor then I would strongly advise that you do so as if there are issues then if you decide to sell it in the future these issues could cause problems.

     If you need anything else please feel free to ask.

     Best wishes

     ASG

     

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