Selling a Commercial Property

The sale of a commercial property is an important and often sensitive time.

Whether you are selling a freehold, leasehold, auction, land or portfolio, our expertise in negotiating and drafting documents for commercial property will ensure your commercial property transaction is handled to meet your requirements. We understand the importance of deadlines and we work closely with clients, lenders and surveyors to ensure the transaction runs as smoothly as possible.

If you wish to speak to someone regarding buying commercial land/property, please give us a call or email us at info@lewisdenley.com.

    Our commercial property solicitors’ expertise

    From retail property, to industrial and warehouse space, our expert commercial property solicitors can provide professional support at all stages of your transaction.

    We have an in-depth understanding of the numerous factors you should consider when selling commercial property in order to maximise your returns and achieve completion within a reasonable timeframe.

    We can assist in relation to sales involving:

    • Freeholds
    • Leaseholds
    • Auction property
    • Portfolio or SIPPs investments
    • Sales through special purpose vehicles

    Our commercial team has experience working with all types of business, including sole traders, small to medium enterprises, and regional and national corporations. The law governing commercial property sales can be complex, but we will talk you through the law in detail and proactively anticipate and avoid challenges.

    Selling commercial property – the process

    We can handle the entire process of selling your commercial property on your behalf. Every transaction is unique and we will explain the process that will apply in your individual circumstances in depth. However, a typical sale may work as follows:

    Preparing information

    Before you can proceed with a sale, there are preparatory stages to complete. This includes gathering information such as:

    • Title Deeds and other relevant Land Registry documents
    • Leases
    • Planning permission documents
    • Commercial EPC (Energy Performance Certificate)
    • Information about Stamp Duty Land Tax, business rates and other costs

    You will need to complete various CPSE Forms (Commercial Property Standards Enquiries) which must be provided to the buyer upon your initial agreement to transact.

    We will also carry out various checks as required by law, such as money laundering regulations.

    Instructing a commercial agent 

    Your agent’s job will be to market the property and find you a buyer.

    Acceptance to exchange 

    Once you have found a buyer, we will send them the draft contract together with relevant documents, including the CPSE forms.

    If you have a mortgage over the property, we will also contact them to obtain a redemption figure.

    The buyer will conduct their own searches and investigations into the property and may make more enquiries, to which we will respond promptly. Once the buyer is satisfied, you will be ready to exchange contracts.

    Once contracts are exchanged, the transaction will become legally binding and you will not be able to back out without incurring penalties. The completion date will also be set at this stage and the buyer will pay the deposit.

    Exchange to completion

    The sale does not officially complete until the buyer transfers the purchase price. We will redeem your mortgage (if you have one) and transfer the remainder to you (less any professional fees).

    Costs for selling commercial property

    Whatever type of commercial property you are selling, you need to take into account a number of costs:

    • Solicitor’s fees – we offer flexible payment options to work with your budget and ensure the viability of your transaction. Wherever possible, we offer fixed fees and we are always upfront and transparent about our costs.
    • Commercial agent’s fees – agents will typically charge a percentage of the sale price – usually around 1-3%. However, it is always worth trying to negotiate a better deal
    • Mortgage redemption fee – if you pay your mortgage off early, you will probably be liable for fees. You should always make sure you are aware of these costs before deciding to sell
    • Capital Gains Tax – you will likely incur CGT on any rise in value.
    • Removal costs – you should ensure all your belongings are moved out of the property ready for the new owner, particularly if you are selling business premises

    Get in touch with our commercial property solicitors in Horsham

    If you would like further information or advice on selling commercial property, contact us today by giving us a call at our offices in Horsham, West Sussex, or by emailing info@lewisdenley.com.

    Speak to an expert

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      We recently used Lewis Denley to purchase a property and would enthusiastically recommend them. Every member of staff we dealt with was great, but in particular Carrie Foley was impressive from start to finish. She was efficient, friendly and very helpful. Always there when we needed her, often ten steps ahead, and she was patient and adaptable when other solicitors in the chain were causing tremendous problems. Cannot recommend this firm highly enough!
      Lewis Denley Solicitors have been great to work with. They are highly professional, always kept us in the loop and updated on where the sale of our property was at. They kept the process moving and we were able to complete the sale in a short space of time. Awesome solicitors who actually get the job done and to top it off they don't charge the earth!
      Fair price, transparent in their dealings. A bit slow to respond on occasions but have been hampered by Covid restrictions. On the whole a satisfactory experience - but then it wasn't a particularly testing conveyancing job.
      I am very satisfied with how Lewis Denley handled my house purchase, as the process was adapted in order for completion to go ahead, despite the COVID-19 pandemic. For example, the use of an ID recognition app and use of email to reduce the risk of face to face meetings. I will be using Lewis Denley in future.
      Rosie Inman
      Lewis Denley came highly recommended when searching for a solicitor. The entire process was faultless. Mabelline Appaiha was my solicitor and Anna Stoneham my paralegal. Both were extremely efficient and thorough. Managed to exchange and complete within 6 weeks. I will definitely use LD again
      Derrick Barendse

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