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|
|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|