As a general rule, any transaction involving a lease is more complicated and potentially legally risky, and consequently, good and thorough advice tends to cost more than for freehold conveyancing.
This is an area where “cheap can cost you dear”, as it is critical that any lawyer you instruct drafts/negotiates/reads the lease properly, and advises you thoroughly and in plain English. Having said this, experienced lawyers, such as at Rehman Solicitors know what they are looking for and have precedents and procedures in place to save time and save you money.
The types of issues which can cause problems in the short, medium or long term, on commercial leases include but are not limited to :
•Appropriate length of lease/remaining terms
•Can the lease be renewed on expiry
•Requirements for personal guarantees at the beginning or on sale of lease
•General position at end of lease term
•General pre-contract enquiries regarding the property
We hope that this summary has been useful. We would be delighted to act for you on any commercial property matter and can provide you with a fixed fee quote immediately