If you're thinking of buying an existing business in the Edinburgh area that comes with leased premises, there are many legal aspects you'll need to consider. With Blair Cadell on your side, you can focus on your plans for the business, safe in the knowledge all the legal work is being carried out promtly and professionally.
Whether you've been through the process before, or are buying an existing business for the first time, it's important to have a legal partner you can trust to negotiate and work hard on your behalf.
We've been through all aspects of the business purchase process many times and our experience is invaluable when it comes to:
- Finding the right business for you
- An understanding of the local market and operating conditions
- Advising on the little details that often get overlooked by prospecting buyers
Many of the main parts of the process are listed below. To discuss these in more detail with one of our commercial property team, contact us now
| Advertising | Select property. Contact Blair Cadell to note interest and raise initial enquiries |
| Negotiation | Agree "Heads of Terms" with selling agents. Look at current lease terms |
| Contract | "Missives" contract including adjustment of draft Assignation of lease |
| Documentation | Lease Assignation Examination of landlord's title Examination of existing Lease |
| LBTT | Payable (on basis of agreed assignation terms) |
| Public register | Payable based on agreed assignation terms |
| Survey |
Important information for tenant taking on full repairing obligations Landlord to supply Energy Performance Certificate (EPC) |
| Bank | Consent may be required in relation to any existing landlord's security |
| Licensing | Pub, hotel, restaurant etc check licensing requirements |
| Local authority consents | Check landlord's documentation in order and obtain re proposed use/works |
| Party status | Landlord may require personal guarantees |
| Landlord consent | Required re Assignation, at outgoing tenant's (assignor's) cost Likely to be required in relation to any works proposed by tenant |
