Commercial property

Commercial properties are the use of any real estate for business or commercial purposes, such as creating income or facilitating wider commercial activities. Real estate could include buildings, land or residential properties that either generate business or profits.

In a word, yes. A commercial property solicitor ensures that the transaction is legally sound, negotiates terms, conducts due diligence (such as title and environmental checks), and handles registration with HM Land Registry. They protect your legal and financial interests throughout the deal.

Heads of Terms outline the basic terms of a commercial property transaction before the full contract is drafted. They’re not usually legally binding but serve as a framework for negotiation and can speed up the legal process by aligning expectations early.

Important terms include:

Rent and review clauses

Service charges

Lease length

Break clauses

Repair and maintenance obligations

Rights of renewal under the Landlord and Tenant Act 1954

While you’re not legally required to use a solicitor when handling commercial property, it is highly recommended. Commercial property comes with a lot of technical laws and best practices that can be difficult to navigate without the help of expert advice. 

At Wright Hassall, we’re here to help you every step of the way. Get in touch with our Commercial Property Solicitors today to see how we can support you.

When renting a commercial property or looking to rent a commercial property, there are a few things you should consider.

For those looking to rent out a commercial property from a landlord, you should:

• Identify the best location for your business.
• Confirm your rent budget.
• Determine the rent payment date, the amount that will be paid and the frequency.
• Negotiate your commercial tenancy agreement.

When renting out your commercial property to a tenant, you must:

• Complete a health and safety risk assessment and remove any hazards. 
• Outline who is responsible for any repairs and maintenance. 

If you’re looking to rent a commercial property, seek commercial property advice from our team today for further guidance!

In England and Northern Ireland, Stamp Duty Land Tax is calculated based on the Net Present Value (NPV) of the rent payable over the lease term, as well as any premium paid.

NPV is the total value of all rent payments throughout the lease term, which is then discounted to the present-day-value. This calculation is complicated, so it’s recommended to use HMRC's SDLT calculator with the additional help of a commercial property solicitor to ensure your calculations are correct. 

SDLT rates payable on the NPV of the rent are as follows:

• 0% up to £150,000.
• 1% on any amount exceeding £150,000.

Commercial leases are a legally binding document between the tenant and landlord. It gives the tenant the permission to use the property for commercial activity for a set period of time and outlines the responsibilities of both parties.