The buying and selling of commercial property is the driving force of most commercial property businesses and can be a significant investment for non-property clients that have possibly sold a business or family and charitable trusts and pension funds making long term strategic investments.
BBS has decades of experience acting for buyers and sellers, and great care and expertise is available within our team to assisting clients that are investing substantial funds, time and energy to their property transaction, and often dealing with banks and funders to ensure they have the funds required for the investment.
Any proposed investment purchase has to stack up for the investor and clients will often have carried out much market and property due diligence before they agree a deal and the legal due diligence process begins. That is where BBS Law come in and provide balanced and appropriate due diligence revealing all the information about the property that you need to know.
Often, we will then act on a sale of that property and we work with you at an early stage to ensure the property is prepared for sale so that a buyer’s enquiries are kept to a minimum and the sale is conducted in the timeframe you expect. We are frequently dealing with properties that are being put up for auction by clients and full contract and title packs are provided in a timely manner so as to be available on auctioneer’s websites as soon as marketing commences. Similarly, many clients purchase at auction and often at very short notice we have to review the auction pack, and apply a commercial common sense as to what to look out for in a limited time.
We act for a variety of clients who will all have their own specific requirements – commercial property investment companies will have much in-house expertise, private investors will probably need more support, charitable trusts will have specific regulatory requirements to comply with, pension funds will also have particular rules as to the types of property and limited borrowing they can take on. We have acted for them all and know how to adapt to these requirements.
These types of transactions are rarely ‘plain vanilla’ and often issues do arise (arrears of rent arising between exchange and completion, VAT complications on TOGC’s, Capital Allowances, redemption of charges etc), and we have the expertise to provide commercial and practical solutions or suggestions working with you to arrive at the best commercial outcome. We frequently will liaise with the client’s tax advisors on these transactions.
Some property purchases and sales are via a corporate wrapper, i.e. the sale or purchase of the company that owns the property asset. BBS Law have much experience of this and work closely with our corporate department to co-ordinate these more complex structures and transaction, sometimes with an off-shore element.
In the vast majority of transactions, we work on a fixed fee quoted in advance.