Why Every Business Should Know About Commercial Property Solicitors

Here is why every business should know about commercial property solicitors. No matter 
the scale of your business or the length of your commercial contract, we’d always advise 
seeking advice from a solicitor for all matters concerning commercial real estate. 

If you’ve never sought legal advice before or deciding whether it is a worthwhile 
investment, we hope this blog proves why every business should know about commercial 
property solicitors. 

What Does A Commercial Property Solicitor Do?

Commercial real estate translates to any property that houses business activities. Gyms, 
restaurants, office buildings, retail stores, and supermarkets are all everyday examples of commercial property. 
 
The laws applied to commercial real estate differ from the laws you may be familiar with for residential property. The law is tailored to the needs of commercial tenants and landlords, ensuring that acquisition, ownership, use, development, and case are governed fairly. 
 
A commercial property solicitor can fulfil and oversee different areas of commercial property law, representing either the tenant or landlord. This may include buying & selling commercial property, property litigation, tenancy agreements, and review of leases. 
 
For a business entering a commercial tenancy, solicitors will act as a trusted advisor. Appointed solicitors ensure the business is compliant throughout the process and aware of all relevant regulations and restrictions throughout the transaction. 
 
Some of the key responsibilities of a commercial property solicitor include: 
 
– Drafting and reviewing tenancy agreements in an effort to achieve favourable terms 
for the client. 
– Overseeing property purchases and sales, identifying any hidden costs and making 
their client aware, so they maintain financial stability. 
– Manage lease agreements and renewals, mitigate any disruptions, and ensure 
seamless daily operations for the business. 

 
Why Every Business Needs a Commercial Property Solicitor 

No matter if you’re an SME, and this is your first time entering a commercial property agreement, or you’re a big organisation that is acquiring a new branch or has been comfortably in your commercial lease agreement for some time… Here’s why every business should know about commercial property solicitors. 

1. Legal Expertise

The framework of commercial property law is very intricate, making it difficult for someone who doesn’t know it in and out to navigate. Hiring a commercial property solicitor gives a business a professional set of eyes, who can oversee every legal interaction with a fine-tooth comb. This will illuminate any grey areas that are tricky to comprehend and help to minimise potential risks. 
 
Insight from a commercial property solicitor will ensure you comply with UK laws pertaining to planning regulations, environmental obligations, and building management. Should disputes with a commercial landlord arise, your solicitor can help this come to a swift resolution that is mutually beneficial.

2. Risk Mitigation  

Acquiring commercial property without legal counsel is a massive gamble. Skipping over even the most minuscule detail can lead to huge, costly consequences. A commercial property solicitor will be sure to do their due diligence and identify any relevant regulations and restrictions attached to your property. 

3. Contract Negotiation  

Sometimes, negotiating contracts with a commercial landlord can be tough. Their terms may not be favourable to your business, leading to increased responsibility and costs at your end. Without legal expertise, it can be difficult to negotiate better terms in your commercial tenancy contract. 
A commercial property solicitor has the skillset and knowledge to safeguard your position in a tenancy agreement. They will be able to identify unfavourable clauses for your business and negotiate fairer terms on your behalf. This also includes ensuring complete clarity on terms of agreement and liability. 

4. Streamlining Transactions 

There are numerous independent parties that lend their hand to commercial real estate, surveyors, lenders, and so on. A commercial property solicitor will step in and facilitate all transactions. With their involvement, all transactions are guaranteed to proceed smoothly. 

Chasing third parties can be time consuming for a business. Commercial property solicitors allow businesses to focus on their day-to-day operations, while assuring the rest is taken care of. 

 
Key Areas Where Commercial Property Solicitors Provide Value 

Signing a lease agreement on a commercial property is a huge commitment for a business. Tenancies in commercial real estate tend to be significantly longer than in residential real estate. The terms of a commercial lease agreement can also have long-term implications for a business, so they must enter any contracts with a comprehensive understanding of their liabilities and restrictions. 

There are also plenty of investment opportunities that can come from commercial real estate, such as development projects. Commercial property solicitors can keep an eye on the real estate market, identifying both potential pitfalls and opportunities. 

When it is time to exit a commercial tenancy agreement, a solicitor can assist with selling the property. Again, this is a complex process, which can lead to a myriad of legal issues if not overseen carefully. 

 
 
Why Every Business Should Know About Commercial Property Solicitors From Blacks Legal 

Now you understand why every business should know about commercial property solicitors, here’s why you should choose to work with Blacks Legal. 

Our highly professional team of commercial property solicitors are dedicated to finding legal solutions for all our clients, in every case. With 30 years of experience behind us, we are confident in our rounded knowledge of commercial real estate and our ability to deliver quality legal counsel. You can find out more about us here. 
 
Whatever stage you’re at in your commercial lease, should you require expert advice, we’d be happy to help. Contact us today by filling out our online form or drop us a line at 020 3835 3802.