Commercial Property Pricing Information

Pricing

We offer an initial consultation which is free of charge. It is aimed at understanding the nature of your case and assessing whether (and how) we may be able to help you. If we agree to take on your case, we shall discuss the basis for calculating our charges and disbursements to proceed further.

Fees

Leasehold Purchase (Vacant)

Registered Title, No Follow up Enquiries, No follow up Searches, Property not vat-able, vacant

£1450 + VAT

Leasehold Sale (Vacant)

Registered Title, No Follow up Enquiries, No follow up Searches, Property not vat-able, vacant

£1450 + VAT

Freehold Purchase (With Business)

Registered Title, No Follow up Enquiries, No follow up Searches, Property not vat-able, vacant

£1450 + VAT

Freehold Sale (With Business)

Registered Title, No Follow up Enquiries, No follow up Searches, Property not vat-able, vacant

£1450 + VAT

Grant of Lease (acting for Landlord)

No follow-up enquiries, No follow-up searches, no references, no deposit, no borrowing, no schedule of condition, vacant

£1250 + VAT

Grant of Lease (acting for Tenant)

No follow-up enquiries, No follow-up searches, no references, no deposit, no borrowing, no schedule of condition, vacant

£1250 + VAT

Assignment of Lease (acting for Landlord)

No Deposit, No Guarantors, No Schedule of Condition

£950 + VAT

Assignment of Lease (acting for Assignor/ Assignee)

No follow-up Enquiries, No follow up Searches, No References, NO Deposit, No borrowing

£1250 + VAT
License to Underlet

Standard sub-lease, no References

£950 + VAT

 

Extra Work and Fees:

Authorised Guarantee Agreement

350 + VAT

Rent Deposit Deed

350 + VAT

Separate Agreement for Lease

500 + VAT

Deed of Surrender

500 + VAT

Deed of Variation of Lease

850 + VAT

Disbursement (not included in our pricing):

Disbursements are costs related to your matter that are payable to third parties, such as search fees and land registry fees. We handle the payment of the disbursements on your behalf to ensure a smoother process.

Searches. Our usual search package costing £284.04 inc VAT (at 20%) consists of the following searches:

  • Regulated Local Authority Search
  • Drainage & Water Search (Thames Water)
  • Groundsure Homebuyers
  • Groundsure Planning
  • Chancel Check

It may be necessary to carry out additional searches depending on the nature and location of the property.

Bankruptcy search £2.90 inc VAT (at 20%) per name.

Land Registry Search £3.90 inc VAT (at 20%) per title.

Stamp Duty Land Tax – this is dependent on the value of the property and whether you own any other property anywhere else in the world. Please go to the following link to ascertain the rates applicable:-

https://www.gov.uk/stamp-duty-land-tax/residential-property-rates

A separate regime exists for property situated in Wales. Please follow the following link for further information.

https://gov.wales/funding/fiscal-reform/welsh-taxes/land-transaction-tax/?lang=en

Land Registration fees – these are dependent on the value of the property being purchased. Please go to the following link for the current fees:-

https://www.gov.uk/guidance/hm-land-registry-registration-services-fees

Electronic Filing Fee – Land Registry Application £6.00 inc VAT (at 20%)

Electronic Filing Fee – Stamp Duty Land Tax £6.00 inc VAT (at 20%)

 

Disbursements for Leasehold Property

In addition to additional fees for acting on a leasehold purchase there would be further anticipated disbursements* in respect of leasehold property:-

  • Notice of Transfer fee – usually between £50 to £100 plus VAT (at 20%).
  • Notice of Charge fee (if the property is to be mortgaged) – usually between £50 and £100 plus VAT (at 20%).
  • Deed of Covenant fee – This fee is charged by the management company/landlord for the property and can be difficult to estimate. Often it is between £100 and £200 plus VAT (at 20%).
  • Certificate of Compliance fee – In some cases it may also be necessary to obtain a certificate of compliance from the management company/landlord for which they will charge a fee. If such a fee is payable it is normally between £150 to £200 plus VAT (at 20%).

*These fees vary from property to property and can on occasion be significantly more than the ranges given above. We can give you an accurate figure once we have sight of your specific documents.

You should also be aware that ground rent and service charge will apply throughout your ownership of the property. We will confirm the ground rent and the anticipated service charge as soon as we receive this information.

Services included

  • Purchase of Commercial Freehold Property
  • Purchase of Commercial Leasehold Property
  • Sale of Commercial Freehold Property
  • Sale of Commercial Leasehold Property
  • Lease Transfers or Assignments
  • Business Transfers or Assignments
  • Sale and Purchase of Business
  • Renewal and Ending of Commercial Leases
  • Negotiating a new Lease
  • Lease Drafting Service
  • Lease Checking Service
  • Non-payment of rent, Forfeiture and Bailiffs
  • Rent Review
  • Grant of Licence to Assign
  • Advice to Landlords and Tenants

Key stages / timescales

How long it will take from your offer being accepted until you can move in to your house will depend on a number of factors. The average process takes between 6 to 8 weeks to exchange of contracts, with completion usually taking place 2 weeks after exchange. However, it can be quicker or slower, depending on the parties in the chain. For example, if you are a first time buyer, purchasing a new build property with a mortgage in principle, it could take longer depending on the stage reached in the construction of the development.

However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer, between 2 and 6 months. Again this will be dependent on other variable factors of such a transaction. In such, a situation additional charges would apply.

Qualification and Experience

We have three members of the team who may work on your matter:

Mr. Jitesh Vrajlal Thakrar

Solicitor

Mr. Thakar deals with various areas of law including, Civil and Commercial Litigation, Conveyancing, Family and Wills & Probate. He qualified as a solicitor in 1979 and has been in private practice for over 40 years. He specializes in immigration, family matter residential conveyancing including purchases and sales and also deals with commercial shop leases and residential lease extensions. Mr. Thakar provides an excellent personalised approach to every client, drawing on his profound knowledge and experience and applying both to each and every case. He is now a consultant solicitor.
He is well known in the Middlesex community among local estate agents, Charities and various organisation.

Immigration Solicitor Litigation Solicitor Solicitor in Southall

Mr. Fahmy Mohideen Bawa Mohamed

Solicitor

Mr. Fahmy Mohideen Bawa Mohamed – Qualified solicitor with many years of experience. Qualified as a Solicitor in 2013 at the BPP School. Mr. Fahmy is the director of this firm. Mr. Fahmy has for more than 10 years experience, practised as a solicitor and is experienced in the UK immigration and asylum. He specialises in commercial work, family law, wills and probate, Employment matter, lasting powers of attorney and private client work and Landlord and Tenant matter. Mr. Fahmy prides himself in his ability to create lasting relationships by listening to his clients, providing honest and straightforward advice as a priority. He is involved in various community, charity work and other related social activities.

Mr. Jagdish K Gaware

Solicitor

Mr. Jagdish is GDL and qualified solicitor in 2015. deals with various areas of law including, Civil and Commercial Litigation, Landlord and Tenant, Conveyancing, Family and Wills & Probate. For more than 07 years. Jagdish is an extremely approachable member of the team and adopts an empathetic and sensitive approach to all of his clients whilst remaining proactive and amicable. He is dedicated to providing a tailored service to clients, focused on their needs and objectives whilst adopting a creative approach to resolving disputes without recourse to courts.

Contact us today, we’re here to help.
Tel: 0203 500 2141 or Email us at info@mbmsolicitors.com

If you need legal advice, contact us and one of our experts will get back to you as soon as possible.

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