Sinclairslaw are involved in a wide range of commercial property transactions. We are often called upon to draft industrial, commercial or retail leases for owners of commercial property. We also act for tenants of commercial property negotiating favorable terms for new leases. Advice is also available on the sale and transfer of existing leases.
Our Property Department regularly represents small, medium and large-scale property developers often drafting and negotiating Option Agreements as well as advising on financing and planning matters.
We have wide expertise in acting for Landlords who wish to evict a tenant from business premises or business tenants being threatened with eviction.
Costs
Our fees are on a fixed fee basis and depend on which part of the UK the property is situated and completing of the transaction.
For a usual sale/assignment, grant of lease or purchase:
London and South East England
Our fees start at £1500.00 plus disbursements* and VAT
Wales and all other areas of England
Our fees start at £1000.00 plus disbursements* and VAT
(*Fees are based on each transaction)
In addition to our fees there will be a fee of £40.00 plus VAT for each bank telegraphic transfer that we make during the transaction.
Our fees are based on the sale/purchase price of the property therefore please do contact us to obtain a more specific quote for your sale or purchase.
For matters in England, if we believe that it would be beneficial for your matter to be dealt with by the Cardiff office we shall advise you accordingly.
Disbursements
The usual disbursements associated with a sale are:
- Land Registry Official Copy Entries (title deed) £3.00 each document
- Other Land Registry documents (if required) £3.00 each document
- Anti-Money Laundering/ID Check (per person) £7.20
The usual disbursements associated with a purchase are:
- Stamp Duty – this is based on the purchase price and can be calculated using the following link: https://www.tax.service.gov.uk/calculate-stamp-duty-land-tax/#/intro
- Land Registry Fee – this is also based on the purchase price and can range from £20.00 - £915.00. The fee scale can be found at: https://www.gov.uk/guidance/hm-land-registry-registration-services-fees#scale-1-fees
- Searches (approximate) £300.00 -£400.00
- Bankruptcy Search (per person) £2.00
- Land Registry Priority Search (per title) £3.00
- Anti-Money Laundering/ID Check (per person) £7.20
- Lawyer Checker £10.00
These disbursements are payable to third parties and we do not have any influence over these charges.
Other disbursements may arise during the transaction but we shall advise you of this before incurring any costs.
If the property you are selling/purchasing is a leasehold property then there may be additional disbursements payable to the freeholder/managing agent and these will not be known until the transaction begins.
Abortive Costs
Abortive fees are based on the work already carried out up until the time that the transaction is aborted, but will not be more than what was quoted. All abortive costs will also be in addition to any disbursements incurred.
Services
We will liaise with the other party’s legal representative and any third parties which are specifically connected to the sale (i.e. lenders, management companies, agents etc.).
On a purchase we will investigate the title to the property and will send a report to you.
We will pay the disbursements on your behalf and deal with payment of stamp duty to HMRC.
We will not deal with any applications to HMRC for a refund of stamp duty, for example, when the higher rate has been paid but needs to be refunded because the main residence has been sold within the stipulated time.
Your matter will be dealt with by a member of our conveyancing team formed of solicitors and legal executives/licensed conveyancers who have experience in both residential and commercial matters. Their supervisor is Rachel Ip Fung Chun who is a Senior Associate Solicitor and she has over 12 years’ experience in both residential and commercial matters.
For any other transaction or non-usual matters please contact us to obtain a more specific quote.