Dealing with commercial property can be on a leasehold or freehold basis and in either instance, you are taking on a potential liability which can have significant long term implications.
Silk Sharples Jennings Chartered Surveyors offer a full range of surveys and inspections for all types of commercial, industrial, office and retail premises and these can be critical in assisting in the negotiation of more favourable lease terms, or alternatively for ensuring the price being paid for freehold property is reflective of its condition.
When purchasing a commercial property the importance of having a detailed building survey prior to purchase cannot be underestimated and our Chartered Building Surveyors are experienced in the inspection of all types of modern and traditional structures.
We will undertake a full assessment of the building structure, ensuring that when you purchase the property you are fully appraised of its condition and where necessary, are able to budget for repairs or works of upgrading and refurbishment. Frequently the information provided within the building survey will allow, where necessary, the purchase price to be re-negotiated to reflect the condition.
When taking on a commercial property on a formal lease it is vital for a tenant to obtain a detailed Schedule of Condition, which would ideally be attached to the lease and agreed with the landlord to provide a base line agreement as to the condition of the property at the time of occupation. This will ensure that as a tenant you are protected against having to undertake costly repairs and dilapidations at the end of the lease which were already in existence at its commencement.
Where a Schedule of Condition cannot be agreed with the landlord, it is still vitally important that as the tenant, you are aware of the condition of the property in order that you can budget accordingly over the term of the lease for any potential dilapidations.
The ability to use a Building Survey or Schedule of Condition prior to commencement of the lease is critical to ensure that you can negotiate the most appropriate terms. As Chartered Surveyors we are frequently working in association with Solicitors to ensure clients obtain the best advice prior to entering into a lease agreement and the earlier that we are involved in the process, the more cost effective this can be.
Towards the end of a lease agreement, a Schedule of Dilapidation will need to be prepared by the landlord and this will be a reflection of the condition of the property based on the terms of the lease.
Silk Sharples Jennings are able to act for both landlords or tenants in the preparation or negotiation of Schedules of Dilapidation and their associated costs and we have many years experience working for individuals and corporate clients to ensure the terms of the lease and the repairing obligations are properly adhered to.
At Silk Sharples Jennings we have a wealth of knowledge and experience in the negotiation of lease terms and in particular, the negotiation of rent reviews on behalf of both landlords and tenants of commercial property.
An understanding of the complexities of the lease is crucial to ensuring that both landlords and tenants are properly advised and it is important to critical that these matters are dealt with expediently and professionally to ensure the effective management of the property and to allow business to continue without interruption.
We are happy to discuss your particular requirements prior to being instructed, to establish that you are proceeding in the most appropriate fashion.
Silk Sharples Jennings are Chartered Valuation Surveyors and RICS Registered Valuers and are pleased to offer a variety of valuation services in respect of commercial property.
We undertake RICS compliant valuations for Banks and Building Societies in relation to secured lending, as well as valuations for accounting purposes in respect of property assets and taxation purposes.
Our valuation reports are presented in a formal report format and are compliant with the RICS Valuation - Professional Standards (Red Book).
We are also able to offer more informal valuations to property purchasers or owners, perhaps where information is required as part of future development of the business, or for other internal requirements.
The rating assessment on your commercial property is based on the notional rental value as assessed by the District Valuer and these can often be challenged successfully in order to obtain a reduction in your rates.
At Silk Sharples Jennings we have experience of dealing with the Valuation Office Agency and where appropriate, negotiating reductions in the non domestic rates on commercial premises. With the ever increasing nature of fixed costs and expenditures within business, the need to ensure that you are properly assessed for non-domestic rates is ever more important.
We are happy to provide initial informal advice and assessment before undertaking a formal proposal to seek a rates reduction and should you wish to discuss this possibility, then please do not hesitate to contact our office.
Silk Sharples Jennings Chartered Surveyors are qualified to undertake energy assessments on non-domestic premises at both Level 3 and Level 4.
If we can help in any way or if you have any question about our services, please don’t hesitate to get in contact
Call us on: 01743 461 777
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Longbow Professional Centre,