Commercial sales and lettings

Our commercial Agency Team provide a service to our clients that we feel unrivalled to lease or sell all kinds of commercial property, land and investments, such as offices, industrial / warehouse units, retail, medical, churches, leisure facilities, pubs, land and development sites.

The department is active across the Thames Valley, particularly within Berkshire, Buckinghamshire and Surry in towns such as   Windsor and Maidenhead, High Wycombe, Marlow, Henley on Thames, Staines, Cookham, Amersham, Beaconsfield, Gerrards Cross, Wokingham and surrounding areas.

Our service includes 

• To market all types of commercial property, fully exposing each to the market, as a result of a comprehensive marketing campaign.  To include photography and the production of modern marketing details and listing these details on our website and various national portals.  Such as Rightmove, LoopNet, CoStar, EACH, Zoopla and Agents Society.

• To provide an acquisition service of both freehold and leasehold opportunities throughout all commercial property types, ensuring we negotiate the best possible terms on behalf of our client.

• We do not step back upon the appointment of solicitors, our team pro-actively liaise with the solicitors, to assist with ensuring a smooth legal process on both disposal and acquisition instructions.

• All clients have access to the entire Agency Team from start to finish.  

• Regular communication and feedback on all interests and viewings that are undertaken throughout the marketing process.

What are the typical terms for a commercial lease?

The terms of a Commercial lease vary widely. The following points are, in brief, some of the most common terms referenced within commercial negotiations:

• Security of tenure – The lease will stipulate whether the lease is protected by the security provisions of the Landlord & Tenant Act 1954 part II amended. If the lease is drafted inside the act you will have the right to a new lease at the end of the existing. If you are contracted out, you have no such right.
• Rent – The lease will stipulate the rent amount and when it is to be paid. Ordinarily, monthly rents are paid quarterly in advance on English Quarter dates.
• Rent reviews – Should there be a rent review within the lease term, the rent review clause specifies when the rent will be reviewed – typically every 3-5 years. The legal process to establish the new rent will be specified in the lease agreement, with ‘upward only market rent reviews’ being the most common method.
• Use – The use clause determines what the agreed use will be and, importantly, any restrictions or limitations that could constrain or limit a tenant’s business. Our advice: Always ask your solicitor to ensure the use is correct and check the planning consent for the target property.
• Repairing obligations – The majority of commercial leases are granted on a ‘full repairing and insuring’ basis; this places responsibility on the tenant to carry out repairs and pay for premise insurance.  Our advice: be sure to take advice on what you are expected to upkeep and maintain throughout your lease obligation.
• Dilapidations – A tenant will be required to return the premises to a specified state of repair. Our advice: Be sure to consult with a surveyor about the condition of a property before taking on a new lease.
• Lease term – The lease term defines the duration; the duration is negotiated for each property individually.  The most common terms being a 5-year lease with a break at 3 or a 10-year lease with a break at 5.
• Alienation – The lease agreement will cover whether there is potential to sublet in part or as a whole to another party.  It will also cover whether a lease can be assigned to another party, subject to the landlord’s consent.
• Alterations – A tenant may wish to make alterations to the property during their occupation. The alternations clause of the lease determines what can be changed with the landlord’s prior consent and what will require a formal licence for alterations.
• Break clauses – Many commercial leases include a break clause, which can provide greater flexibility to the tenant or, indeed, the tenant and landlord should the break be mutual. The break clause gives the tenant / or landlord, the right to terminate the lease early (by providing written notice at a specified time).
• Service charges – Should the property / accommodation be within a multi-let estate or part of a bigger building, the leases will require the tenant to pay their share of the cost to maintain the common areas.

• Personal guarantee – It is fairly common that a tenant will be expected to pay the equivalent of 3 – 6 months rent as rent deposit to be held for the duration of the lease.  Some landlords may ask that individual business directors stand as personal guarantee against the lease as an additional layer of security to a rent deposit.  Each is negotiated at the time of securing the property.

How are commercial rents set?

Rent is generally calculated per sq.ft. (Square Foot).

What are the upfront costs of a commercial lease?

Several upfront costs are involved in a commercial lease. The largest by value will typically be the ‘Rent Deposit’. In addition, preparation costs for a building survey and the legal process / lease drafting will be incurred.. There could also be costs associated with Stamp Duty Land Tax and Land Registry.

Do you operate in my area?

Kempton Carr Croft’s Chartered Surveyors act on instructions where we genuinely feel we add value.  Contact us to discuss your disposal or acquisition needs.