Commercial property
Make the premises work for the business plan.
Connect title, use, lease terms, finance and operational requirements before committing to commercial space.
Premises and investment
The property document must support the intended operation.
Commercial property work can include acquisitions, disposals, leases, licences, renewals, assignments and secured finance. The legal structure matters, but so do access, permitted use, fit-out, repair, service costs and the timing of occupation.
A first brief should explain who will own or occupy the premises, what the business needs to do there, how the transaction is funded and which operational dates drive the deal.
Heads of terms
Record the commercial deal while there is still room to shape it.
Heads of terms can help the parties align on property, price or rent, term, break rights, repair, security, conditions and timing. They are not a substitute for legal review and may contain provisions intended to have immediate effect.
Early advice can identify points that will be expensive or difficult to correct after detailed drafting begins.
- Transaction structure and legal entity
- Intended use, access and operating requirements
- Fit-out, alterations, repair and reinstatement
- Finance, deposit, tax advice and target dates
Due diligence
Title is one part of commercial suitability.
Legal due diligence may cover title, rights, restrictions, planning documents, searches, lease provisions, service arrangements and replies to enquiries. Technical condition, environmental assessment, valuation and tax require the appropriate specialist input.
For a lease, understand total occupancy cost as well as headline rent. Service charge, insurance, repair, business rates, VAT treatment and exit obligations may affect the real commitment.
Project coordination
Property, finance and fit-out timelines must be reconciled.
A lease or purchase can depend on lender approval, landlord consent, planning position, building work, licences and a business opening or relocation. Put these dependencies on one chronology and assign responsibility.
Do not order irreversible work or assume access before the relevant agreement, consent and insurance position are clear.
Scope and price
Define the transaction before comparing estimates.
Commercial property fees depend on the structure, value, title, lease, finance and negotiation required. Ask what due diligence, drafting, negotiation, reporting, completion and registration work is included, and which third-party costs or specialist advice sit outside scope.
This prototype publishes no invented commercial fee or completion promise.
Preparation sequence
Prepare a useful commercial property enquiry
- 01
Describe the premises
Give the address, property type, current status and proposed use.
- 02
Explain the structure
State whether the matter is a purchase, sale, lease, assignment or finance transaction.
- 03
List the dependencies
Include funding, planning, fit-out, licences, consents and linked business dates.
- 04
Share agreed terms
Provide heads of terms and identify any point that is not actually agreed.
Questions to clarify
Common questions before the first conversation.
These answers are general orientation for England and Wales, not advice on a particular matter.
Should heads of terms be reviewed?
Early review can identify structure, risk and missing points before the parties invest in detailed drafting. Whether particular terms are binding depends on their wording and context.
Does legal due diligence confirm physical condition?
No. Technical condition and suitability may require surveyors, engineers, environmental consultants or other specialists.
Is the landlord's draft lease neutral?
It should not be assumed to be neutral or suitable for the tenant's operation. The actual terms and commercial context need review.
Prepare the first conversation
Turn the property deal into a concise, useful brief.
Collect the people, dates, documents and practical outcome before contacting a regulated legal provider. Do not include confidential information in this prototype.