andersonbain’s commercial property solicitors can provide comprehensive legal support on all aspects of buying and selling commercial property. Our teams are based in Aberdeen and Edinburgh and serve clients across Scotland. We deal with a wide range of commercial property deals, involving small business premises, major office developments and high-value properties.
How we support our clients
From the outset, our commercial property lawyers will take the time to listen to your requirements and objectives. We have an extensive, in-depth and up-to-date knowledge of the local property market and will be on hand to guide you throughout as part of our end-to-end service.
Selling your commercial property
What do I need to do to prepare my commercial property for sale?
As with a residential property, you should present your commercial property in the best light to attract the interest of prospective buyers. Remove any clutter and carry out minor repairs. You want those viewing the premises to imagine themselves running their business from there.
You will also need to prepare a buyer pack giving information about the property as a whole. This should include as a minimum:
- Planning permissions, use classes and lawful use certificates;
- A commercial energy performance certificate (EPC);
- Information on business rates, and other costs;
- Asbestos survey.
- Electrical Installation Survey
- Any other Specialist Reports which you already hold
Do I need an agent to sell my commercial property?
Instructing a knowledgeable and competent agent offers a host of benefits when it comes to selling your property. Commercial estate agents will have a thorough understanding of the local market and be able to provide you with an accurate property appraisal. At andersonbain, our commercial property team has access to both estate agency and conveyancing services.
Buying a commercial property
How can I find the right commercial property for my business?
The type of business you run will be a key determining factor in identifying the right premises. While the type of property, size and location are obvious considerations, you’ll also want to think about:
- Transport links
- Delivery facilities
- Proximity to employees, suppliers and clients
- Other businesses in the area
- Parking facilities and restrictions
- The impression the premises will give to potential clients
Our commercial property agents can advise on these matters and help you to identify properties that meet your requirements.
What size of deposit will I need?
As with buying a residential property, you’ll need a substantial deposit to buy your commercial property. Mortgage lenders will typically ask for a deposit of 20% or more and may ask to see a long-term business plan when considering your application.
Remember to factor in other expenditure going forward as well. There may be set-up costs as well as long-term outgoings to maintain the premises. Getting a full professional survey carried out before you proceed with the purchase is essential to avoid any nasty surprises further down the line.
Contact our Commercial Property Lawyers in Aberdeen & Edinburgh, Scotland
Our commercial property team can provide legal support on all aspects of buying and selling commercial property. Call andersonbain today 01224 456 789 (Aberdeen), or 0131 228 2000 (Edinburgh) or contact us today through our online contact form.