...I find it hard to put into words just how much I appreciated your concern for my wellbeing and your willingness to fit me into your busy schedule, when I walked into your offices distressed and without an appointment!.......
Client thank you email to Lara Colgan of the Employment Department
Tenant Lease Options
We offer the following packages when acting for a tenant of shop or small industrial premises where the annual rent is under £10,000 a year and the lease is for 10 years or less.
Gold
This is a fully comprehensive service to include the following:
- Detailed advice on the terms of the lease;
- Searches (local authority, drainage and environmental);
- Enquiries from landlord or landlord’s solicitors;
- Negotiation of any amendments to be made to the draft lease;
- Registration of the lease at the Land Registry;
- Preparation of the stamp duty land transaction return (which will need to be completed even though Stamp Duty Land Tax will not be payable).
Searches are not compulsory but please consider the following:
- Peace of mind to ensure you know as much about the property as possible.
- A local authority search is a form of enquiry that is made by the local authority and can reveal matters such as:
- Planning enforcement notices, and
- local road proposals.
A drainage search will reveal whether the premises are connected to mains drains and water.
Now that environmental issues are becoming more of a concern, if an environmental search is not carried out, you as the tenant under a lease could be responsible for cleaning up pollution on the land.
between £1,000.00 - £1,500.00 (+ VAT and disbursements)
Silver
On the basis of a less comprehensive service:
- Advice on the terms of the lease;
- Basic enquiries relating to insurance and the landlord’s title to the premises;
- Negotiation of any amendments to be made to the draft lease;
- Registration of the lease at the Land Registry;
- Preparation of the stamp duty land transaction return.
- No searches.
between £850.00 - £999.00 (+ VAT and disbursements)
Bronze
A basic service to include:
- Preparation of a report on the draft lease;
- Registration of the lease;
- Preparation of the stamp duty land transaction return.
between £675.00 - £799.00 (+ VAT and disbursements)
Which service will suit you?
Every case is different, so you will need to look at your own personal situation. Here are some guidelines from our experience.
The Gold Service offers the greatest peace of mind, as you will have the benefit of full searches and enquiries and of our experience in advising on the lease. We would recommend this to clients taking on premises they do not know, those not well versed in Landlord and Tenant matters or those who want to reduce the risks to their business as much as they can.
The Silver Service may be more appropriate for those who are more experienced in property matters and who have already obtained detailed knowledge of the property they are taking on.
The Bronze Service is most suited to the experienced client taking on premises on a short term basis and where they are fully aware of the risks associated with leasehold properties and it is only our advice on the content of the lease that is required.
01376 321311
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