Hennings Solicitors offers a full fixed fee service for commercial property transactions including leasehold and freehold property. We can guide you through what can be a complex area of the law. We have the experience to assist you in negotiating the purchase of your first commercial lease, selling an existing lease (known as an “assignment”) or granting a new lease on property you or your company owns, including tied pub leases, or giving formal licence to an assignment of a lease where you are the landlord and the tenant has requested an assignment in accordance with their lease.
We can also help you with rent reviews, renewals and general advice on all aspects of commercial property. Please feel free to telephone Katie or Anthony to discuss your transaction.
We recognise that businesses don’t always prioritise budgeting for legal advice when they take on a new lease so we offer a fixed fee lease reporting service for £500 plus VAT to report to you on the terms of the lease you are proposing to take on, and all documents disclosed with it. In our report, we will advise you on our recommended next steps and you can choose whether you want us to continue to act for you on your behalf if you decide to proceed with the transaction.
Our fixed fee for granting a new commercial lease is between £1,200 plus VAT and £1,800 plus VAT plus disbursements depending on the proposed terms.
Our fixed fee for acting for a commercial landlord in granting a licence to assign a lease is £850 plus VAT plus disbursements and for drafting a rent deposit deed is £350 plus VAT.
Our fixed fee for drafting a deed of surrender is £350 plus VAT
For acting for you in the sale or purchase of a business as a going concern, which includes a property transaction, our fees will depend on the circumstances but we will provide you with a fixed fee quote on request.
We charge an administrative fee of £20 plus VAT per same day CHAPS bank transfer.
What are disbursements?
Disbursements are third party costs such as:
- Official copy documents from the land registry (£3 per document),
- Land registry fees (see land registry calculator),
- Stamp duty (stamp duty calculator),
- Bank transfer fees (£15 per CHAPS fee)
- Managing agents fees if applicable (approximately £300)
Please contact us for a quote tailored to your particular circumstances.