HOME | LOGIN | OUR PEOPLE | CONTACT US | CAREERS | NEWSLETTER




tel: 0845 9011 960

You are in:- Home Page » Blogs

Hot Property


commercial property, Commercial property sale, Tenancy Deposits, Uncategorized    No Comments

 

 

The first step is that you will need to check that the lease can be passed to another third party. Look at the terms  the lease for the assignment of lease clause. Most leases allow for the assignment of the whole, very few allow for the assignment of part of the property.

The assignment clause will generally require that the landlord’s consent to the assignment is obtained. The landlord and you, as the outgoing tenant, will want to ensure that the tenant coming in is off suitable financial standing to pay rents etc. The landlord may put conditions on the licence to assign including:-

1. that you as the tenant passing the lease on, enters into what is called an AGA ( Authorised Guarantee Agreement). This in basic terms is an agreement in which you as the tenant passing the lease on, guarantees that the incoming tenant will comply with the terms of the lease;
2. the landlord will ask that you pay his fees and his surveyor’s fees for  the licence to assign;
3. the landlord if he is not completely satisfied that the incoming tenant is of suitable financial standing may request that the incoming tenant pays a rent deposit.

When you are looking to pass the lease onto a new tenant it is important that you take legal advice at an early stage. I have lots of experience in such matters and would be happy to assist with any questions you may have and if you decide to instruct would provide you with a fixed fee quote for the work.

Christie Limb

climb@fidler.co.uk

Share on Facebook



Commercial property sale    No Comments

Chains

Many of us feel as though we live in our office but now the government has decided that we can automatically get the planning permission to make this legal.

Currently to change B1(a) offices to C3 residential purposes  requires planning permission.

What will the changes allow?

The changes will allow upper floors of offices and some rural offices forming part of a country estate to be used for residential purposes.

When will this be in force?

Spring of 2013 and will initially be applicable for the next 3 years.

You will still need to be involved in a  Prior Notification procedure the details of which are yet to be confirmed but will more than likely be similar to the one  under the Agricultural Permitted Development Rights.

It’s not quite a clear-cut as is indicated though. Any external alterations will still potentially need Planning Permission for the alteration work and compliance with listed building status.

If you need more information on this topic contact wjames@fidler.co.uk or visit our website.

Share on Facebook



Commercial property sale    No Comments

The return of the commercial HIP?

One of the areas that client’s get most frustrated about when starting a new commercial transaction is the length of time  it can take filling out all the paperwork at the start of the transaction.

However, there is a rather obvious solution to reducing the time the whole process takes.

Some of you may remember that HIP’s were introduced a few years back for residential property transactions. They received a bit of a bad press but in principle were actually quite a good idea. I think people objected most to the fact that it cost them money to do put them in place initially.

Fundamentally though completing documents associated with the sale prior to actually finding a buyer e.g. When the property is first marketed is actually a really good idea. It allows all the aspects of the sale to be discussed and resolved well in advance and also to identify any problems that the property may have and resolved in plenty of time before the buyer is found.

As such Fidler & Pepper have started to try and persuade agents and clients to complete all the forms associated with a commercial transaction as soon as the property is marketed.

This allow contracts to go out as soon as a buyer is found, irons out any problems that the property may have and overall means that the transaction time is greatly reduced.

Best of all its Free!

If this is something that interests you then give us a call on 10623 451111 or email at wjames@fidler.co.uk to find out more.

 

Share on Facebook




Powered by WordPress Entries RSS Comments RSS