Posts Tagged ‘England And Wales’

Buying commercial property

buying commercial propertyIf you are buying commercial property what should you bear in mind? What are the most important factors to have taken into account before purchasing commercial property in England and Wales?

Caveat emptor (“Buyer beware”)

This principle is fundamental in English Law.   The seller is not obliged to disclose physical defects in a commercial property.  It is for the buyer to employ a surveyor to carry out a buildings survey so that the buyer is aware of any defects in the property such as subsidence, landslip and heave, damp, flooding, poor insulation, structural defects.  The surveyor will also highlight whether alterations appear to have been carried out to the property which might have needed planning permission or building regulation approval.    He will highlight issues which need to be investigated by your solicitor as part of the conveyancing process such as rights of way, asbestos survey, fire risk assessment, energy performance certificates (see below for further detail). Read the rest of this entry »

Buy Commercial Property and Avoid Top 4 Mistakes That Destroy Value

Buy Commercial PropertyWhat should you be looking for when you buy commercial property?   Here are our top 4 tips to look out for when looking to buy commercial property.

1. Avoid onerous restrictive covenants

If you are looking to redevelop property or change the use of commercial property, then it is vital that you check the title for restrictive covenants.  If the title is registered (and most property is registered at the Land Registry), then for a small charge (£8.00) you can search the Land Registry records by property description or even postcode and obtain a copy of the registered title to any property in England and Wales.

You then need to look at the Charges Register which sets out all of the rights and covenants which the property is subject to.    The entries in the Charges Register will tell you if the property is subject to restrictive covenants which might affect your ability to redevelop or change the use of the property you are looking to buy.   Some of these restrictive covenants are extremely old and are worded in quaint language but they can still affect properties despite their antiquity.

So what happens if the property you are interested in buying has restrictive covenants preventing the property say, from being used other than a single residential dwellinghouse and you want to turn into a block of flats or want to sell off the large back garden as a separate house plot.    Read the rest of this entry »

Dominic Beeton, Solicitor
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