When it comes to commercial property, it can be tricky to decide whether you should buy it or lease it. You’ve got your business plan, you’re ready to start trading but you need a home for your business. Your business premises will home your staff, welcome your customers and hold your stock and furniture. This will be your office and you will potentially be spending more time in the business premises than anywhere else.
Thinking about residential property, it is easy to decide to buy rather than rent, because you can afford to buy and the mortgage lender will be there to assist you. But commercial property is a different matter, a far more complex scenario, which will require expert advice to help you decide whether to buy or lease. In order to choose to buy or rent your home, you only need to consult with your mortgage lender, but choosing to buy your second home that homes your business, you will need to contact a solicitor with expertise in the commercial property area.
If you have cash or loaned funds, you can certainly buy property from a seller. But you have to weigh up the pros and cons of owning the property, together with all its expenses. Remember that by law, certain expenses are the property owner or landlord’s responsibility. Whereas as a lease holder, you are relieved or certain financial responsibilities with the property. You need to weigh up the cost.
So whether you’re looking to buy or lease a commercial property, our team of dedicated conveyancers will be ready to offer expert advice and support you throughout the conveyancing process. We are also in touch with financial advisers that will help you make an informed decision. Please give us a call for an informal discussion. SG
DG Law were fantastic throughout our purchase process. We had a short, fixed, timeline to
Venetia Lawson-Cruttenden [solicitor] is fantastic! She is always so thorough and efficient and gives you the
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