Commercial Property Conveyancing

We act for a wide range of clients, including owners of startups, SMEs and large national businesses, as well as property developers, housing associations and investors. We have particular expertise with agricultural property and land.

From the acquisition and disposal of business premises to construction and site redevelopment, our commercial property solicitors are equipped with the experience necessary to guide you through complex processes, transactions and decisions with ease.

Our Property Litigation team also regularly assists our clients with all manner of commercial property disputes, resolving even the most complex and high value disputes, often without the need for court proceedings.

Speak to our commercial property solicitors in South and West Wales

To speak with our expert commercial property lawyers in South and West Wales, please contact your local JCP Solicitors office or use our simple contact form to arrange a call back.

The commercial property conveyancing process explained

Pre-contract

During the pre-contract period, the solicitors acting for the buyer and the seller will have various responsibilities, including:

Sellers:

• Preparing the contract of sale
• Completing the relevant commercial property enquiry forms (CPSE forms)
• Providing any other information required by the seller and their solicitors
• Advising the seller on tax considerations including Capital Gains Tax (CGT)

Buyers:

• Investigating the seller’s title to the property to uncover any potential issues
• Reviewing the contract of sale, raising any enquiries & requesting any necessary changes
• Carrying out pre-contract searches to uncover any issues that might affect the buyer once the deal is completed
• Reviewing the information provided by the seller in their CPSE forms and raising any necessary queries arising from those answers
• Advising the buyer on any additional issues, such as around their financing and tax considerations

Exchange of contracts

Once the details of the sale have been agreed in principle, the solicitors acting for the buyer and seller will handle exchange of contracts.

This will involve the two legal teams going through their respective client’s copies of the contract of sale line by line together to ensure both copies are identical and there are no issues that need to be resolved.

The buyer and seller will then sign their respective copies of the contracts and these will then be exchanged between the two legal teams. This exchange is usually carried out in person, by recorded post or by fax.

Once contacts have been exchanged, the sale will be legally binding on both parties. This is the point at which the buyer will pay any required deposit, the transfer of which will normally be handled by the two parties’ legal teams.

Completion

When the contract is made, there will be an agreed ‘completion date’. This is the date upon which the remaining balance of the purchase price will be paid and the sale will be final.

On the completion date, the following will happen:

Buyers:

• The buyer’s solicitor will transfer the remaining balance of the purchase price to the seller’s solicitor
• Any Land Transaction Tax (LTT) or Stamp Duty Land Tax (SDLT) due on the property will need to be paid
• After completion, the buyer’s solicitor will also need to register the change of ownership with the Land Registry

Sellers:

• The seller’s solicitor will handle the transfer of the balance and confirm this has taken place to the seller
• Any Capital Gains Tax (CGT) due on the sale will need to be paid
• Any financing the seller had for the property will need to be repaid
• Once any financing has been repaid, the seller’s solicitor will transfer any remaining balance to their client

Our commercial conveyancing fees

We understand how critical cost is when dealing with any business matters, so we aim to provide complete transparency over our pricing.

We can offer fixed price commercial conveyancing, giving you certainty over the costs involved.

At the outset, our team will provide you with a firm estimate of the costs for dealing with your commercial property transaction, as well as a realistic schedule allowing you to accurately budget your time and costs.

Should any extra expenditure be required, we will always discuss this with you and secure your agreement before any work is carried out. This way there will be no nasty surprises to worry about.

To get a quote for your commercial conveyancing, please get in touch.

Commercial property conveyancing FAQs

Why do I need a solicitor to buy commercial property?

When making any kind of property investment, it is essential to have good legal advice. There are various ways in which an experienced commercial property solicitor will benefit your transaction, including:

• Checking for any potential issues that could delay the sale or add additional cost e.g. issues with the property title
• Making sure the terms of the contract are clear, fully understood by both parties and that they meet your requirements
• Ensuring all paperwork is completed correctly and promptly, avoiding unnecessary delays
• Handling transfer of funds securely, keeping your money safe

What should I look for when signing a commercial lease?

Exactly what should be contained in a commercial lease will depend on the property and your requirements, but typical features to look out for include:

• The cost of the lease
• The length of the lease
• Exactly what is included with the property – including the property boundaries, fixtures and fittings
• Allowed use – exactly what activities you can/cannot carry out on the property
• Break clauses – setting out the terms under which the lease can be ended early
• Rent reviews – the terms under which any rent reviews will take place
• Who is responsible for repairs and maintenance – this could lie with the landlord, leaseholder or be shared between both parties
• The right to sublet – some leases will allow you to sublet the property while others will specifically prohibit this
• Security of tenure – under the terms of the Landlord and Tenant Act 1954, business tenants have an automatic right to renew their lease when the current term ends – however, landlords can include a clause in a lease whereby the tenant surrenders this right by signing the lease

How much does commercial conveyancing cost?

This will depend entirely on your requirements. Most commercial property transactions can be completed on a fixed fee basis and we will be happy to provide a quote upfront.

To get a quote for your commercial conveyancing, please get in touch.

How long does it take to get a commercial lease?

There is no set answer to how long it takes to get a commercial lease, as it will entirely depend on the circumstances.

For straightforward leases where both parties work together efficiently and there are no unexpected issues to deal with, it can be possible to get a commercial lease in around 6 weeks.

However, the process can take much longer for more complex leases, where there are problems that need to be resolved or where either party is slow to respond to enquiries, send paperwork etc.

Why use our commercial property conveyancing solicitors in South Wales?

With decades of experience helping investors, business owners and developers to buy and sell commercial property, we can provide a safe, reliable and efficient commercial conveyancing service to match your requirements.

Our commercial property law expertise has been independently recognised in the Legal 500 and in the Chambers and Partners directory under Agricultural and Rural Affairs.

We have local offices covering the whole of South Wales, East Wales and West Wales in Cardiff, Swansea, Caerphilly, Carmarthen, Cowbridge, Haverfordwest and St Davids. This allows us to provide a convenient local service and expert local knowledge to our Wales-based clients.

Drawing on our experience and strong commercial sense, we can help guide you through buying or selling commercial property on schedule and on budget.