By Shaun Burdett and Hannah Airey
If your property has a short lease (less than 80 years, or fast approaching the point where it will have 80 years or fewer left on the lease term), it is more than likely that you will need to extend your lease at some point in the future in order to be able to sell it on the traditional property market.
Deciding to become a commercial property landlord is a substantial move, with a host of legal risks to consider.
If you’re considering selling your commercial property, you must ensure you have the necessary paperwork to prove the property is compliant with UK laws before putting it on the market.
Entering into a financial loan agreement or granting security/guarantee creates legal obligations to comply with the terms of the agreement – with potentially significant risks for those liable if repayments are not made.
Making the right decision between leasing and buying a commercial property is a significant step for any business. This choice can have long-term financial and operational implications.
