A business which owns the freehold in its premises can count that as another of its assets. Whether or not it’s a sound investment can depend on the care taken during the buying or selling process.
Freehold ownership gives a degree of autonomy rarely found in leasehold arrangements. Owners can make, or apply to make, changes to the property. They can occupy it for as long as they like and even choose to become landlords and generate rental income.
While the benefits are significant, there’s no escaping the financial outlay involved in buying a freehold. For that reason, it’s crucial that the process of identifying the property and making sure it does everything a business needs now – and may need in the future – is thorough.
Our commercial property lawyers advise on the acquisition of every type of commercial premises. They work with businesses to find out exactly what’s needed in terms of:
to then discuss with them the best options. They’re meticulous in due diligence, identifying actual and potential issues and the ways in which these might be overcome and used to a client’s advantage during negotiations.
No deal completes without every stone having been turned. From searches and pre-contract enquiries, to planning restrictions, valuations and drafting and negotiating the agreement for sale, it’s an intensive process. That’s the same whether the deal is about sale or purchase.
Things can sometimes get complicated and there is always a risk that the process becomes drawn-out. Where our lawyers make a difference is in focusing on the things that really matter. Sometimes that means advising a client that the deal isn’t right for them. Other times it’s driving a sale or purchase through quickly so as not to miss a commercial opportunity.
Whatever the scenario, our lawyers offer support which adds value.