Buying in the present depressed market offers some exceptional opportunities. But unless the title acquired is good and marketable , then your money will have been wasted.
The Tiger years have left some fine marks on the landscape and others not so fine. The legal structure used in many of these developments is often incomplete and can pose enormous traps for the unwary or inexperienced.
Why would you work hard to identify a great commercial opportunity and then risk it by not getting the best advice to protect yourself?
We have the experience and skills to identify those traps and advise on how to deal with them . Where that is not possible , we won’t be shy about suggesting that you walk away and apply your money to another opportunity. We seek to protect you and your assets.
Is the property fit for purpose from a Planning Permission and Building Regulation perspective.?
The Commercial Property Solicitor team at Neil J Butler & Co have been providing excellent and cost-effective legal services to the commercial property market for over 30 years. We have a thorough knowledge of the Planning and Regulatory codes that impact such properties. We also have available a network of other qualified professionals who can support the effort to acquire a Commercial Property suited to the intended business purpose-Engineers, Architects, Mechanical and Electrical Consultants and Environmental Consultants.
Where the intended purchase is part- financed by a loan, the Bank will want the assurance of knowing that the borrower’s solicitor has the necessary experience as a Commercial Property Solicitor.
New Commercial Property Regulations
The Building Regulations of 2014 have dramatically changed the requirements for construction but also certification of works. The Commercial Property Solicitor team at Neil J. Butler & Co. have a clear understanding of these new requirements and can use that knowledge to guide you in either the development or the purchase of your business premises.
Off-Licences, Pubs and Supermarkets
If buying or selling a hotel or a Public House or if seeking to licence a supermarket for off-licence trade, a detailed knowledge of the liquor licensing laws as they affect property is essential. For over 30 years, the Commercial Property Solicitor team at Neil J Butler and Co have provided expert advice in this complex area, including amongst our clients a Supermarket chain operating throughout Europe.
Commercial Property Lease
Often, your Landlord Rights are stronger in Commercial Lettings than in residential. You need to understand those differences – an experienced Solicitor like Neil Butler can help with that.
Because of the complexity of commercial property lettings, it is not possible to provide a template form of Lease on this Web-site.
We at Neil J. Butler & Co., have over 25 years experience in commercial property leases, acting for both Landlords and Tenants – particularly in the retail area regarding shop units in Shopping Centres but also in regard to industrial properties.
If you are a Property Landlord or are thinking about an investment in a commercial property which you would ultimately intend renting on a commercial basis, please contact us at an early stage. Knowing your Landlord Rights can make a difference in the type of tenant you attract and thus, in the rent you receive.
Long or Short Letting?
An intending property Landlord must decide whether he wishes to embark upon a short term Business Letting or one very much longer. The distinction is made by various pieces of Landlord & Tenants Legislation which confer upon the Tenant certain very important rights. They also give Landlord Rights to the owner of the premises.
If the Tenant is operating a business from commercial property for longer than 5 years, he can then compel the Property Landlord to enter into a 21 year Lease. If terms for rental and review of that rent cannot be agreed then either party can apply to the Circuit Court to have those issues determined. Normally the rent for the commercial property is at a market rent with 5 year rent reviews.
However, it may not be the original Property Landlord’s intent that the commercial property should be locked up in the hands of a Tenant for up to 21 years. Initially, when letting the property for the 1st time, the Property Landlord may simply want to have the premises occupied for a short number of years prior to redevelopment or a future sale or indeed a future occupancy by himself. But if the threshold of 5 years continuous business use is passed, the Property Landlord will have allowed the Tenant gain very important rights.
At that point if the Landlord wishes to recover his commercial property, he may have to buy out the Tenant unless the Tenant decides not to push the issue OR if a Waiver of Rights document was completed by the Tenant either at the start of the Tenancy or during the Term of it. This is a key Landlord Right but must be applied at the start of the Lease.
We at Neil J. Butler & Co. can prepare such a Waiver and advise you on your Landlord Rights, so your property can be protected as you require.
Important issues also arise as to the extent to which the tenant can alter or change the premises during the tenancy and as to the rights the tenants may develop for compensation for such alteration.
Clear advice from experienced Property Solicitors is essential for any property owner thinking about a commercial Lease.
If, on the other hand, the Property Landlord intends letting a commercial property for the long term, these issues may have no concern for him whatsoever. He will be more interested in structuring the Lease to ensure that a sufficient rental is obtained at the outset and then that it is reviewed at regular intervals. There are well established formulae for these kinds of terms and for the calculation of future rents in the event that parties cannot agree them.
It is vital in this context to speak with a practising commercial property Solicitor to ensure your investment in premises and its future value, taking account of a sitting tenant, is protected.
Neil J. Butler & Co have extensive experience in this area and can provide the appropriate advices on your Landlord Rights.
Vat and Stamp Duty on a Lease
Commercial lettings may also be subject to important VAT considerations. This is a particularly complex area depending on the length of the Lease involved. Contrary to the usual situation in the market place where one registered party dealing with another registered party can simply pass on the VAT, this is not always so in commercial lettings. Again it is vital that proper legal and taxation advice is sought by any intending Property Landord.
Commercial Lettings may also be subject to Stamp Duty and again questions arise as to whether a property should be leased to a tenant before or after fit out.
If the property intended for letting on a commercial basis is part of a larger scheme of development, there may be a Head Lease affecting the Property Landlord. The relationship of this Lease with the new intended letting is one which must be carefully monitored and structured. The importance of seeking professional advice cannot be over-stated as in the event of the Landlord breaking the terms of any Tenancy Agreement in which he may be a party with a superior Landlord, he runs the risk of losing his own property – the one you may have rented !
Repudiation of Lease by Liquidators
This has become common-place . There is case law to support the right of the Liquidator and there is little legally that a Landlord can do to prevent it. On a practical level, Landlords Need to be far more aware of the status of tenants ; the rent account ; service charge account, rates etc than ever before. There can be limited opportunities for Landlords to protect themselves if some action is taken at the appropriate time. Again, sound legal advice is essential.