What will it cost to purchase/negotiate a lease on the property?

This will depend on a number of factors. Clearly the work is different depending upon whether the instructions you give us are to purchase the property or obtain a lease. In each case the main element of cost is the amount of time spent on the work but we may be able to offer a fixed price at the outset. We will undoubtedly offer an estimate of costs with details of disbursements (payments we will pay to others on your behalf as part of the work to secure the property). We will provide this in advance of accepting instructions to deal with the matter.

Do I have to pay Stamp Duty Land Tax (SDLT)?

Whether you pay SDLT is dependent upon the purchase or lease value of the property. Currently, on a purchase, if the cost of the property is between £150,000 and £250,000 SDLT is charged on the whole of the purchase price at 1%. Between £250,000 and £500,000 it is 3% of the whole price and above £500,000 it is 4% of the whole price. You should also be aware that if VAT is payable then the SDLT is calculated on the whole amount of the price including the VAT. SDLT is also payable on some leases and this depends on the term of the lease (ie how long the lease is for) and the amount of rent payable each year. Your solicitor will explain if it applies and calculate the likely amount of SDLT at the outset so you know the cost early on. Please note that SDLT is payable by the buyer or the tenant ie by the person taking possession of the property.

I have a contract that I need advice on, can you help?

Our commercial team have a wide range of experience in reviewing, drafting and negotiating contracts of all nature. We can assist you to protect your interests and protect you from liabilities by amending a contract to suit your needs. We can also draft bespoke contracts to suit your needs.

I am a tenant. My lease runs for several more years. Can I settle up and move on?

The term of a lease is legally binding upon all the parties and cannot be renegotiated. There are however, mechanisms that allow you to either sell the lease to someone else for the remainder of the term or if the lease includes a Break Clause you may exercise this facility at the appropriate time. Selling the lease to someone else is often the best way forward. This will involve seeking the consent of your landlord and finding a new tenant, one who is willing to pay the price you are asking. The landlord will normally undertake the necessary check of references and financial standing, in the same way as when you yourself took the lease. A break clause is a clause in the lease terms that provides for a review of the lease with the option to give it up without further penalty. It normally happens at fixed points in time in the period of the lease and if you miss it you lose the opportunity to exercise it. It will require you to provide written notice and is usually conditional on all the sums due under the lease having been paid up to date. Break Clauses are negotiated before the lease is entered to and included in the terms of the lease. They are not added once the lease is in effect. Sometimes it is possible to obtain agreement of the landlord allowing you to surrender the lease but normally he or she will want an additional payment from you to agree this.

Commercial Property Solicitors Enfield, Finchley, North London and Hertfordshire

Our commercial property solicitors advise businesses, landlords, tenants, developers and investors on the sale, purchase and leasing of commercial property.

Whether you are acquiring business premises, negotiating lease terms, renewing an existing lease or disposing of commercial property, we provide practical legal advice tailored to your commercial objectives.

Commercial property transactions can be financially significant and time-sensitive. We explain legal risks clearly, carry out detailed due diligence and work proactively to help transactions progress efficiently.

A commercial lease can have long-term operational and financial consequences, so it is important to understand your obligations and flexibility before committing.

Outcomes we help clients achieve

Reduced property-related legal risk
Greater clarity around lease obligations and liabilities
More commercially practical lease terms
Smoother property transactions
Better protection for landlords, tenants and investors
Reduced likelihood of future property disputes

Our Commercial Property / Commercial Real Estate Legal Services

Purchase and sale of commercial property
Commercial leases and renewals
Assignments and subletting
Licences to assign or alter
Lease surrenders
Property aspects of business sales
Lease negotiation support

Why Clients Choose Our Commercial Property Team

We provide practical legal advice that helps clients understand the commercial implications of property transactions, negotiate effectively and make informed decisions with confidence.

Contact our Commercial Property Lawyers in Enfield, Finchley, North London and Hertfordshire today

Call us today or complete our online contact form and one of our team will be in touch.

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