Commercial

The areas of commercial property that we cover:

Acquisition and disposal of freehold and leasehold property

Property acquisition and disposal is an incredibly complicated aspect of law that should be approached with the consultation of a legal expert. Whether it is a multi-property leasehold acquisition portfolio or a single freehold property disposal, our commercial property team will guide you through the entire process from start to finish. This ensures that you focus on the bigger picture rather than getting caught up in the fine print.

Landlord and tenant matters

Whether you are a tenant, a prospective tenant or landlord of a commercial property, there are situations that can arise during a tenancy that require legal advice. Whether it is to help to handle a renewal, or deal with assignment of existing lease, Foys will help protect your company’s rights. Foys’ commercial property experts offer clarity and clear legal support to clients in all matters related to leases.

Asset management

For small to medium-sized businesses, legal experts can provide much-needed assistance on the matter of asset management. Dedicated assistance can include the granting of leases, reviewing memoranda of understanding, advising on building redevelopment plans, issues relating to titles, advising on the guarantor and rent deposit securities and the daily management of properties. Our commercial property team specialise in matters relating to asset management, ensuring your assets are in good hands.

Property refinancing: bridging loans, mortgages, legal charges, debentures

The refinancing of commercial properties can be a productive activity when there is an economic upswing. Refinancing could be for consolidating debts, funding projects or to serve as a cash flow injection. However, there can be significant hurdles, including cost and lender expectations that are unsurpassable without the help of legal professionals. Our property specialists have plenty of experience in helping clients, especially those with smaller businesses, to navigate these potential pitfalls.

Business sales and purchases

The process behind purchasing or selling the assets of a business can be very complicated. This process will happen when a business is taken over through asset purchase as opposed to through the purchase of shares. While the seller retains the shares, the buyer will acquire the assets or liabilities of the business. As this is a complicated process, it is crucial that you seek out the support of an experienced lawyer. Our team of expert commercial property specialists at Foys will provide you with legal advice during this process and can also draft up the relevant documentation

Expect complete transparency with Foys commercial property solicitors

When dealing with the complexities of commercial property, it is crucial that you are able to have complete faith in the quality and accuracy of legal advice to be able to make informed decisions and protect your interests. With Foys, you will never be left questioning the integrity, commitment and honesty of our commercial property solicitors. It is why we approach our initial discussions with a new client by putting them first. Please call or email to discuss your matter and receive a guide to the legal costs involved. Whenever possible we will endeavour to provide a fixed fee. I we are unable to do so, for example, due to the nature or complexity of the transaction, we will offer our services on an hourly rate basis and will provide an estimate of our fees. There are no hidden fees to worry about and you can expect us to be upfront about what our services will approximately cost

Purchasing and selling business premises

When it comes to purchasing and/or selling business premises, it is essential that you consult with professionals before making any decisions or agreements with other parties. There are a variety of issues that have to be considered before you begin a transaction, including documents that need to be in place. Examples of these issues are negotiating terms, searches on the seller/buyer, property inspection, investigation of title to the property, funding considerations, and the preparation/review of contracts. These are but a few of the many considerations that have to be made when engaging in a commercial transaction. To cover these issues with the depth and professionalism that they require, you should always consult a commercial property solicitor (or an advisor, conveyancer, and so on). It is essential that they have experience in handling commercial property transactions, but they should also be approachable and comprehensible. After all, there is no point in receiving legal advice if you don’t understand what it means. Your commercial property solicitor also needs to ask the salient questions of you, as this is the only way that they can possibly understand what you hope to achieve in the buying and selling of commercial property. And, of course, your solicitor should be upfront about the timescales, costs and risks that could affect your business interests. This is precisely the type of solicitor you will encounter at Foys.

Acting for landlords and management companies

While property maintenance and tenant satisfaction are important aspects of property management and being a landlord, the overriding reason behind why you are involved in such an arrangement is to receive a return on your efforts and investments. To bridge the gap between these interests, it can be useful to have a professional on call with expertise in property management to offer a legal opinion when issues or disputes arise. When you understand the law, you know what is expected of you and what isn’t expected of you – allowing you to make decisions that are in your commercial interest. At Foys, this is what our commercial property solicitors and advisors offer our clients – clear advice that comes from an extensive knowledge base built on education, experience and excellence. We will act for you when drafting leases, handling complicated renewals and solving problematic disputes with commercial tenants.

Foys Solicitors can help you with commercial property issues

Successful companies are built on the collective ability of directors and shareholders to trust in the decisions that they make in their commercial interests. To do that, they must be supported by reliable professionals. For nearly 50 years, Foys Solicitors has provided clients across the UK with the legal know-how to prosper, adapt and grow their businesses in a climate of evolving regulations and changing economic conditions. We have been able to do that by giving our clients what they desire – legal advice and support that is both actionable and accurate.

We also cover

Licences to underlet > alteration > assignment > Residential Development> Commercial Development> Deeds of variation/surrender> Agricultural land

Frequently Asked Questions

What is an overage clause?

An overage clause (sometimes called a clawback provision) is a provision usually contained in a property sale contract that requires the buyer to make an additional payment to the seller if the property's value increases as a result of specific events, such as the buyer obtaining planning permission.

What is security of tenure?

Security of tenure gives business tenants the right to stay in their property after the lease ends and request a renewal on similar terms. Security of tenure primarily benefits the tenants as it allows them to establish a long-term base of operations and focus on business growth without the uncertainty of potential eviction at the end of their lease term.

I have received a lease by a landlord. Can you check the lease for me?

We would be happy to act for you in respect of the lease. If you have received a draft lease from a landlord, we must follow the necessary procedures to advise you on the lease and must act for you in respect of the whole lease transaction. When advising you in respect of a lease matter we would submit the necessary searches, if required, and review them together with the title documentation. We would also raise any necessary enquiries, ensure the lease is in accordance with Heads of Terms, if any, and advise you in respect of lease provisions. We would also deal with completion and post completion formalities on your behalf.

What are Heads of Terms?

Heads of terms (known as HOTs) are intended to be a summary of important points agreed between contracting parties before they move to the stage of a full, comprehensive contract. Heads of Terms are usually prepared by Estate Agents or Surveyors. Heads of terms are not essential or required for commercial transactions. The main advantage of using heads of terms is for complex, high value/importance commercial transactions such as Leases. Focusing the parties minds on key issues at the “Heads of Terms” stage can result in the deal going through faster, with less friction, decreased risks of attempted last minute renegotiation and possibly the saving of some legal fees.

How long does a commercial property transaction take?

Unfortunately, there is no fixed timescale unless the property is purchased at auction. Delays often arise when searches or title documentation reveal adverse entries, when funding is not yet in place, when lender is separately represented, or when one party takes longer to respond to enquiries or provide relevant documentation. We keep our clients updated throughout so they always know what stage the matter has reached.

Commercial property law

The commercial property experts at Foys Solicitors support companies and investors across the United Kingdom with the arrangement and negotiation of commercial property transactions.