Buying a commercial property with an existing lease

Landlord Tenancy

When you're looking to invest in commercial property in the Edinburgh area, one option may be to purchase a building subject to tenancy. 

There are many areas which need addressed in this type of property transaction including: 

  • The amount of Land and Buildings Transaction Tax (LBTT) to be paid (formerly known as Stamp Duty)
  • Any licensing/change of use issues with the local authority
  • Informing the current tenant about the change of ownership 

Our considerable experience in the Edinburgh commercial property market means we've dealt with all likely issues many times before. This experience combined with our regular communication and legal expertise, means you shouldn't dwell, contact Blair Cadell. 

Advertising  Select property. Contact Blair Cadell to note interest and raise initial enquiries
Negotiation  Offer
Contract  "Missives" contract
Documentation  Title transfer (Disposition). Examination of existing Lease. Intimate change of ownership to  tenant
LBTT  LBTT is payable (based on percentage of price)
Public register  Registration dues payable based on value of property
Survey  Obtain survey. Energy Performance Certificate (EPC) to be provided by seller
Bank  Confirm funding before concluding contract
Licensing  Check compliance by tenant if required
Local authority consents  Check documentation in order and request from tenant re any proposed use/works
Party status  Consider assignment from seller of any tenant guarantees