Commercial Lease Solicitor
Discussion
We are in the process of selling our current premises (small retail shop, value £110,000 with a small mortgage outstanding, £20K) and taking on a 5 year lease on a commercial unit (£13,600pa). Anyone have any experience or recommendations for a solicitor for this? I've had a quick quote from a local surrey based company, estimated fees are £ 1,250 for the sale and £ 1,500 plus disbursements for the lease. Sound fair?
Sounds bloody expensive to me.
A solicitor in Leicester that does a lot of work for me would charge £600 plus VAT & disbs for the sale and £350 plus VAT and disbs for the lease (as landlord).
Mind you, I currently have a Leamington Spa solicitor doing a lease and they are charging £1200 plus VAT & disbs.
A solicitor in Leicester that does a lot of work for me would charge £600 plus VAT & disbs for the sale and £350 plus VAT and disbs for the lease (as landlord).
Mind you, I currently have a Leamington Spa solicitor doing a lease and they are charging £1200 plus VAT & disbs.
surveyor said:
If they are good and fast sounds fine. I can recommend good people who charge more, and people who charge less, but are slow.
How important is it that the transactions go through smoothly?
Nothing is more annoying than solicitors who blame each other for delays.
Or clients who think that job can be done in an hour for 50p...How important is it that the transactions go through smoothly?
Nothing is more annoying than solicitors who blame each other for delays.
surveyor said:
Haggleburyfinius said:
Not applicable here at all but need a vent!
Just passed 10K in legal fees for the inside the act renewal of a £8k p/a lease.
Surveyors bills incoming soon as well...lovely.
I presume that you have a Landlord who is making life difficult?Just passed 10K in legal fees for the inside the act renewal of a £8k p/a lease.
Surveyors bills incoming soon as well...lovely.
We are the only unit in the building not on a licence...
Has anyone had experience with using a Property Consultant/Agent to negotiate lease terms on your behalf?
We have a specific property we are interested in and our solicitor has mentioned that using an agent to negotiate on our behalf may be worthwhile, but I'm not convinced whether they will add any more value or broker a deal better than their likely fee (circa 10% of annual rental).
We have a specific property we are interested in and our solicitor has mentioned that using an agent to negotiate on our behalf may be worthwhile, but I'm not convinced whether they will add any more value or broker a deal better than their likely fee (circa 10% of annual rental).
PhilLL said:
Has anyone had experience with using a Property Consultant/Agent to negotiate lease terms on your behalf?
We have a specific property we are interested in and our solicitor has mentioned that using an agent to negotiate on our behalf may be worthwhile, but I'm not convinced whether they will add any more value or broker a deal better than their likely fee (circa 10% of annual rental).
Yes. But as I do this I would say that.We have a specific property we are interested in and our solicitor has mentioned that using an agent to negotiate on our behalf may be worthwhile, but I'm not convinced whether they will add any more value or broker a deal better than their likely fee (circa 10% of annual rental).
Should be looking at rent, and importantly other principle lease terms. Also will consider future liabilities and way to mitigate, eg schedule of condition and repairing liabilities.
Should save their fee.... Their fee is likely to be a fairly small cost in the scheme of things, but provide significant advice.
PhilLL said:
Has anyone had experience with using a Property Consultant/Agent to negotiate lease terms on your behalf?
We have a specific property we are interested in and our solicitor has mentioned that using an agent to negotiate on our behalf may be worthwhile, but I'm not convinced whether they will add any more value or broker a deal better than their likely fee (circa 10% of annual rental).
Yes. But as I do this I would say that.We have a specific property we are interested in and our solicitor has mentioned that using an agent to negotiate on our behalf may be worthwhile, but I'm not convinced whether they will add any more value or broker a deal better than their likely fee (circa 10% of annual rental).
Should be looking at rent, and importantly other principle lease terms. Also will consider future liabilities and way to mitigate, eg schedule of condition and repairing liabilities.
Should save their fee.... Their fee is likely to be a fairly small cost in the scheme of things, but provide significant advice.
Has anyone had experience of using a design company rather than knocking something up in the shed and was it better value?
Reality is a good surveyor probably will save you more than the cost, but that might not become clear until the end of the lease when it becomes clear what the cost of dilapidations etc is, or whether the lease can be renewed etc.
Reality is a good surveyor probably will save you more than the cost, but that might not become clear until the end of the lease when it becomes clear what the cost of dilapidations etc is, or whether the lease can be renewed etc.
Chrisgr31 said:
Has anyone had experience of using a design company rather than knocking something up in the shed and was it better value?
For fitout? If so, yes.The better value thing is subjective though. We have a higher quality product that we could have designed/delivered ourselves but the overall cost has been high due to what we told them we wanted.
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