Taking a Commercial Lease

 

Service: Taking a lease as tenant of commercial premises

Fixed Fee

  • Up to £50,000 per annum Annual Rent - £1279 plus VAT.
  • Above £50,000 per annum Annual Rent – Price upon application

If the matter does not proceed to completion then half of the above fee will be due.

In addition to the fixed fee above the following fees may also be payable:

  • Payable in all cases - Bank Transfer Fee (per transfer) - £40 plus VAT
  • Payable in all cases - Electronic Identification Fee (per person) - £10 plus VAT
  • Payable if SDLT is due - SDLT Form Fee - £75 plus VAT
  • Payable if requested - Search Fees - £300 plus VAT

Included in the service

  • Ensuring the Landlord’s Solicitors have drafted the Lease in accordance with the Heads of Terms.
  • Negotiation of the terms of the Lease with the Landlord’s Solicitors
  • Report to you on the terms of the Lease
  • Completion of the Lease
  • Payment of SDLT (if any) on the Lease
  • Registration of the Lease (if applicable) at HM Land Registry

What is excluded from the service?

  • Legal advice outside the scope of the service described above
  • It does not include a Rent Deposit Deed - £500 plus VAT
  • It does not include a Licence for Alterations - £749 plus VAT
  • It does not include any superior landlord’s consent if the lease is an underlease
  • It does not include an Agreement for Lease where the legal fees start from £950 plus VAT
  • It does not include the costs of buying a business too. Please click here for more information on legal fees for buying a business.

Disbursements

Land Registry Fees £40 if length of lease is more than 7 years

Final Searches £20 if length of the lease is more than 7 years

SDLT may also be due and you can calculate your liability by reference to the following link: www.tax.service.gov.uk/calculate-stamp-duty-land-tax/#/intro.  If VAT is payable on the premises then SDLT is payable on the Annual Rent + VAT.

How long will it take?

Timescales vary and on average it will take 4-6 weeks but it depends upon a number of factors outside of our control. We will endeavour to complete the matter as quickly as possible within your timescales.

Who will do your work?

Your matter will be undertaken by one of our Commercial Property Solicitors: Nick Attwell; Matthew Desborough or Joseph Harrison or our Trainee Solicitors under the supervision of Nick Attwell.

When will I pay?

You will need to pay 50% of the fixed fee on account together with any search fees if requested. The balance of fees and disbursements will be due on completion.

How do I instruct Attwells Solicitors

Instructing us is simple. You can either click on the instruct button below to register your interest or you can call us at your local office. We have offices in Ipswich, Colchester and London. When instructing us please inform us of the office you would like to use.

 

Instruct Attwells