Buying or selling commercial property is significantly different from domestic conveyancing and requires advice from a lawyer who has the necessary experience and specialist knowledge of the complexities and issues that can arise. Whether you are interested in an office, shop, industrial unit, licensed premises, care home, surgery or any other type of commercial property, you need the right support to turn a proposal or an agreement in principle into a concluded deal for you.
How can Thorntons help?
At Thorntons, our team is highly experienced in the sale and purchase of every type of property, from shopping centres to portfolios of flats and from contaminated waste ground to purpose-built industrial units. Each transaction brings its own specific concerns and issues, and we will work closely with you to make sure that these are dealt with quickly and appropriately.
If you are buying, we will agree the extent of the diligence you require to be undertaken, report in terms you understand and provide informed, pragmatic advice to assist with your decision-making.
When acting for buyers, we often also liaise with banks or building societies or their appointed agents to ensure that funding is in place for any loans or charges in good time to enable the purchase to proceed smoothly. We will carry out a full investigation of the title deeds and report to you on the title conditions, highlighting those that may affect your intended use or redevelopment.
If the purchase also includes business elements, we will make sure that the relevant assets, including any applicable premises licences, are transferred to you along with the property. In this area we often work in collaboration with our Corporate team colleagues.
We can also advise you on land and buildings transaction tax liabilities or any VAT, Capital Gains Tax and Inheritance Tax implications of the transaction.
If you are selling, we will advise on what a prospective buyer will require from you and make every effort to ensure that the sale proceeds as smoothly and as quickly as possible.