Commercial property is a substantial undertaking whether you are buying, selling or leasing and it is crucial to have the right legal support to ensure that your investment is sound and that you can deal with the property in the way that you need to.

At Gibson Young Solicitors Putney and Chiswick, our commercial property legal team have wide experience of dealing with commercial property across a range of sectors, including offices, restaurants, shops, warehouses and residential and retail developments. We represent investors, developers, banks, landlords, tenants and owner-occupiers and we work for businesses of all sizes.

We have a particularly strong commercial focus and we understand the pressures involved with commercial property transactions. We work proactively to ensure there are no avoidable delays and are known for meeting tight deadlines as well as for our attention to detail.

In addition to outstanding legal expertise, we also provide leading client service. We will work with you to identify key issues that need attention in your transaction and ensure that we are available as needed to answer questions. 

Our commercial property legal advice and representation includes the following:

• Commercial conveyancing

• Commercial leases, to include drafting, negotiating and advising

• Management of commercial property portfolios, to include commercial sales, purchases and financing

• Landlord and tenant disputes

• Commercial property dispute resolution, to include forfeiture, rent arrears, possession and breach of the terms of a lease

• Legal planning and environmental issues

If you would like to speak to an expert commercial property solicitor in London SW15 or W4, ring us on 020 7924 2919, email us at reception@gibsonyoungsolicitors.com or fill out our Contact Form.

We will take the time to understand you and your business so that we can suggest the best possible options and help you achieve the outcome you want.

Our advice will be pragmatic and honest and we will do all we can to ensure that your commercial property issues are dealt with efficiently.

Commercial leases are notoriously complex and in signing a lease you will generally be agreeing to a number of onerous conditions. By way of example, you will generally be required to hand back the property in a good state of repair, even if it was not in good condition when you first took it on.

You will also be bound to continue renting the premises for the term of the lease – you cannot simply serve notice and leave.

This is why it is vital to use an experienced commercial property lawyer. At Gibson Young, we know the potential pitfalls in commercial leases and we can advise you in respect of the conditions you will be agreeing to and ensure that you fully understand the implications of signing.

Commercial leases can be negotiated before they are signed. We can represent you to obtain the best deal and ensure that the terms of the lease are as favourable as possible.

We will reduce your liabilities as far as we can, for example, by ensuring that a condition report is attached to the lease so that you will not be required to rectify problems with the property that existed when you took it on.

It is generally better to try and resolve disputes by agreement wherever possible, rather than entering into protracting legal proceedings. Our property team can work to try and find an acceptable resolution by negotiating with the other party. 

We are regularly able to find an acceptable outcome in this way, which is quicker and more cost-effective than litigation. 

We can also guide you through mediation where necessary and if a dispute cannot be resolved, we will put together a robust case on your behalf for hearing by the court.

Whether a lease can be transferred depends on the terms of the lease. You may be able to arrange to transfer, sublet or assign the lease with the consent of the landlord. 

Depending on which option you choose, you could remain liable under the lease for any rent arrears or repairs and maintenance that the new tenant fails to carry out, so you need to approach the situation with caution.

The landlord will generally also want to approve a new tenant, to include seeing references, before agreeing to an assignment, subletting or transfer. You will usually be liable for paying the landlord’s costs, to include solicitors’ and surveyors’ fees.

Subletting allows you to deal with the new tenant yourself and enforce your agreement with them directly where necessary. Your lease with them will need to contain similar terms to the lease that you have with your landlord to ensure that existing responsibilities are met.

It is usually the case that landlords will ask a new commercial tenant to pay a security deposit when taking on a lease. The landlord can draw on this in the event that the tenant misses a rent payment or owes money because of failure to observe the terms of the lease, for example, through not keeping the property in good condition.

Stamp Duty is payable on commercial leases based on the lease premium paid by the tenant and on the rent that will be payable. Where the value of this calculation is between £150,000 and £5 million, Stamp Duty is payable at 1%. Over this sum, the rate is 2%.

The sum on which the tax is paid, known as the net present value, is not easy to calculate and it is recommended that you ask an expert to ensure the figure you are using is correct so that you pay sufficient tax and avoid the risk of penalties for underpayment. The figure is based on:

• The amount paid by way of a premium at the start of the lease

• The rent, to include VAT where applicable

• The length of the lease

• Chargeable considerations such as obligations on the tenant’s part to keep the property in good repair

We can work out your Stamp Duty payment and arrangement for payment to be made on completion of your lease.

Our commercial property solicitors have extensive experience in dealing with difficult legal disagreements between landlords and tenants and a good track record of finding acceptable solutions without the need for a court hearing.

We work to identify possible solutions and will put together a strong case on your behalf to persuade the other party to engage in negotiation. We are usually able to convince those involved that a negotiated settlement is preferable to lengthy litigation and reach an agreement without undue delay.

At Gibson Young Solicitors in Putney and Chiswick, we offer both legal expertise and excellent client service. We are friendly and approachable and our advice is clear and straightforward. 

If you would like to speak to an expert commercial property lawyer in Putney or Chiswick, ring us on 020 7924 2919, email us at reception@gibsonyoungsolicitors.com or fill out our Contact Form. All initial enquiries are free of charge and without any obligation.