We regularly act for landlords owning the commercial freehold of properties where, for example the property is mixed use and involves sale of a lock up shop on the ground floor with residential units on the floors above it. Likewise we also assist commercial property developers & investors in the acquisition of such properties.
If you have identified a target acquisition site we can assist you at every stage of the process. The seller may insist on complicated overage arrangements, or offer you a conditional offer to sell in the form of an option agreement or a joint venture agreement.
Once heads of terms have been agreed you will then need to apply for the planning permission and enter into various agreements with the local authority within which the target site is situate. You may need representation if the planning application results in an adverse planning determination.
In addition to the usual pre contract enquiries and searches you may also require legal advice about the issues concerning contaminated land and the consequences of purchasing land receptive to contamination or effluents.
The market trend is to raise finance secured against existing property to fund an investment in land, rather than applying for finance to be secured against the target acquisition.
Very often banks and private lending institutions require you to take independent legal advice when seeking their finance to be secured against your own land. You may also require advice on the legal duties you owe to third parties.
We can investigate the legal title to your land and prepare and submit a report on title to your lender's legal representatives. We can work in a manner that is tailored to your own work commitments. We will work hard on your behalf to meet your lender's requirements.