The number of commercial landlords in the UK who are seeing the benefits of buying properties with tenants already in situ is growing. We specialise in helping commercial landlords by offering a range of legal servies.
When buying a commercial property with tenants already in situ, there are various checks that should be completed with regards to the previous tenancy agreements and the rights of the tenants.
Free Initial Consultation
We understand that you’ll want to discuss your options and find out more about how we can help. We offer both appointments throughout the day and out of hours to accommodate our clients. We are happy to meet you at our offices across London, Essex or Kent. To find out more about free initial consultations, please call us on 020 3753 4667 or email This email address is being protected from spambots. You need JavaScript enabled to view it. or This email address is being protected from spambots. You need JavaScript enabled to view it..
The benefits of purchasing a commercial property with tenants in situ include:
- Receive rental income straight away
One of the main benefits of buying a property with sitting tenants is that you’ll receive rental fees from the outset.
- The property should already meet health and safety standards
A key advantage of acquiring a property with existing tenants is that usually after due diligence is completed, the property often meets health and safety standards. That’s not always the case however and the correct checks should be done to verify this.
If the tenants in situ are happy to remain at the property, despite the change in ownership, chances are they’re happy with the standard of the rental space. Again, checks should be made with regards to this.
Considerations
Whenever commercial property is purchased, there is always an element of risk involved. Seeking expert legal advice will help reduce the risks as we understand the process and checks that should be done.
You may want to remove current tenants for various reasons or change the layout of property after taking ownership. We’ll take into consideration your specific circumstances and can guide you as to your options.
In considering these issues, it’s vital to ensure that everything is reviewed by a commercial property solicitor before you take ownership. We know exactly what you should be asking from the seller and can anticipate or flag up any possible risks throughout the process.
Contact our Commercial Property Solicitors
The right solicitor changes everything. Anglo Law Solicitors provides expert legal advice on Commercial property and leases.
Speak directly to a property solicitor now on 020 3753 4667 or complete our online contact form for your free consultation.
We serve clients across the following areas
London areas - City of London, Aldgate, Tower Hamlets, Spitalfields, Westminster, Kensington & Chelsea, Southwark, Bishopsgate, Canary Wharf, Islington & Highbury, Angel, Belsize Park, Hampstead, Swiss Cottage, Finchley.
Essex - Chigwell, Hainult, Woodford, Epping, Chafford Hundred, Chelmsford, Brentwood, Upminster, Grays.
Kent - Tunbridge Wells, Tonbridge, West Malling, Maidstone, Sevenoaks.
