Whether you’re selling, purchasing, or leasing a commercial property, we can assist you in navigating the complex process. We will provide you with legal guidance and advice throughout the entire process; from drafting & reviewing the contract or lease to negotiating terms and navigating any potential legal issues that may arise.
When selling commercial property, the first step is to determine the property’s value is to set an asking price that is realistic and attractive to potential buyers. It’s important to have a clear understanding of the current market conditions. By marketing the property effectively and reaching out to potential buyers, this will increase the chances of a successful sale.
The second step in selling your commercial property is to ensure the Contract aligns with your desired outcome. Our team of lawyers can assist in negotiating the terms of the sale on your behalf, and so it is important to engage us to draft the Contract for you or to review the Contract prior to you sign, to ensure your interests are protected. With the right preparation, the sale process can be simple and quick.
Buying commercial property can be a wise investment for those looking to expand their business or generate passive income. You’ll need to have a clear understanding of your investment goals and developing a strategy on how the property you’re interested in can meet those needs.
It’s important to thoroughly research the market and analyse potential properties to ensure you’re making a financially sound decision. You’ll need to work with a knowledgeable real estate agent who can help you navigate the buying process and negotiate a fair price.
Once you’ve found the right property, it’s crucial to have one of our solicitors review the necessary documentation to ensure the Contract protects your interests. It’s important to note that the property is at the Buyer’s risk from 5pm on the first business day after the Contract date. Therefore, we would advise inserting a special condition into the Contract that states that the risk remains with the Seller until Settlement. This would ensure that if anything happens to the property, you would not be liable. Ultimately, with proper due diligence and the right support, buying commercial property can be a wise investment.
Leasing out commercial property can be a great way to generate passive income. However, it is important to ensure you’re attracting the right tenants and that the lease agreement meets your needs as a landlord. Before leasing out the property, it’s important to conduct a thorough inspection and make any necessary repairs or upgrades. You’ll also want to consider factors such as rental rates, zoning restrictions, and tenant requirements.
Working with a real estate agent or property management company can help you find the right tenants and navigate the leasing process. With proper management and attention to detail, leasing out commercial property can be a profitable and a low-risk investment. Our team can assist you in drafting a commercial lease agreement suitable to your needs.
Here at PD Law, we tailor our commercial leases to align with your interests. We consider all the relevant factors to the lease such as rent and outgoings, rent review, maintenance & repair, assignment & subletting, lessor’s rights and obligations, risk, default and termination, expiry of the term, damage and destruction and any general considerations such as notices, obligations of the parties and statutory rights.
Our commercial team can assist you with any of your commercial property requirements you may have, contact our team today.
Commercial Conveyancing Roadmap – Pre-Purchase
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