Do I really need property searches to enter into a commercial rental agreement?

26th Mar 2018

And is £1800 a competitive solicitors fee for the lease agreement, plus VAT and disbursements? Annual rental is £12,000

Thanks

CATEGORY: Company & Commercial

LOCATION: BRISTOL

1 answer
  • Bookers & Bolton

    These are the different types property searches that will normally be carried out on your behalf if you are buying a property but as you are leasing you can do without some of them.It depends on whether you are taking a whole property or just a floor or part of a property already let.For example if there are already tenants in a shared office building then you may feel comfortable with its usage and not take any searches.It can also depend on how long the lease is for as your exposure to rent might be minimal if the lease is for a short period.  You need to make sure the agreed planning use for the property is correct and this is found out by the local search but you might be able to discover this yourself just by contacting the local planning authority. My local planning authority has an online portal where you can search for copies of planning consents.

    As to £1800 - it sounds a bit expensive and I could do it for £1200. email me at gideon@bookersandbolton.co.uk or call 0142082881 if you are interested. Best wishes Gideon Cristofoli

    •Local authority search – Information from the local council, for example if the property is affected by a planning enforcement notice. A local search is for the property being searched only – it won’t include information about nearby properties. The local authority search is made up of two documents, the LLC1 form – a certificate of search form, and the CON29 document, which is enquiries about the property.

    •Drainage and water search – This search will find out if the property has mains water and drainage, as well as information about the position of the pipes. It will also provide details about how the property is billed for the water supply and waste disposal.

    •Environmental search – This will determine if the property is affected by contamination which could result in costly removal

    •Land registry search – Make sure the seller still owns the property

    •Flood risk report – If the property is at risk from flooding

    •Planning search – Find out if there are any plans in place, maybe the neighbours have planning permission for a big extension or there is an application in place for a new supermarket

    •Mining searches – This survey would only be needed if the property is in an area with coal deposits


     

     

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