The Commercial Property Law Team at Meaby&Co aims to empower you to deal with the process with confidence and dignity.
Our Commercial Property department is headed by Partner Nicky Cleightonhills.
Meaby&Co Commercial Property Law
Meaby&Co has been giving expert advise to clients on property transactions since it first opened its doors back in 1848.
During that time we have developed unrivalled expertise in all aspects of commercial property law.
The experience built up by our well-respected property department means we our superbly placed to advise and guide our clients; from first time business owners acquiring their first office or shop to buyers looking to purchase multi-million pound commercial developments.
Our team provides timely advice to find you the best and most cost-efficient solution.
You may have bought a property jointly with another co-owner and when circumstances change, you may want to sell your interest in the property or buy out the co-owners share. This type of transaction is known as a Transfer of Equity. A common scenario may be where a property is originally purchased with a family member. For instance, brother A and brother B may own a property which they purchased with a mortgage and which they hold as tenants in common in equal shares.
Further to our previous blog posts on Stamp Duty Land Tax (“SDLT”), it is worth bearing in mind that SDLT falls due on the date that the purchase contract is substantially performed. Deemed substantial performance of the contract will differ in each transaction and will turn on the facts. Persuasive factors include whether any part of the purchase price (generally 90% of more) or any rent has been paid or if the buyer has gone in to possession.
Commercial tenants taking a lease of premises should not forget that Stamp Duty Land Tax (”SDLT”) may be payable. The SDLT is calculated on, what is known as, the Net Present Value (“NPV”) of the rent payable over the term of the lease. The minimum threshold for commercial leases is £150,000. For leases of commercial or mixed property, the SDLT rate is 1% for excess NPV up to £5 million and 2% when the NPV exceeds £5 million.
Varsha Varsani at Meaby & Co dealt with our sale, and purchase, in a timely and professional manner. Her attention to detail and anticipation of potential problems were communicated in a helpful and easy to understand way. She responded to questions and issues speedily and always with a friendly disposition. Couldn't have asked for more.
I recently purchased my brothers share of our property and I would recommend using Meaby & Co Solicitors. They are professional, know what they are talking about and will give helpful advise along the way when needed. I would recommend using them and will do in the future.
Thanks guys for your help in a very painful lease extension. Meaby and co were great and even had to negotiate the extension cost as the surveyors went missing!Thanks for a great service and will definitely be using them again.
After i explained my situation to one of the solicitors over the phone regarding the conduct of a surveyor i had used and what had taken place, the solicitor went on to ask me which roofer i wanted to take legal action against. I wasnt impressed at all and it certainly didnt fill me with confidence that he wasnt able to listen properly. At that point i thought to myself "wow, are you really asking me this"!.......If im going to have someone representing me at the very least they need to is be able to listen. I give a 3 star though as he was polite.
The legal service I received was excellent - I can really recommend Marie Waters, a good person to have fighting your corner. My only criticism is that communication was sometimes a bit frustrating although they always came through in the end.
A huge thanks to Chloe and Marie for a tenacious effort in the sale an purchase of our new home. In a conveyance they would of broken most mortals, the two superstars battled a 5 deep chain to completion under what can only be understated as a challenging situation. You’re in safe hands with the Meaby team. 100% thank you!!!
We are so happy to have been assigned Marie Waters and her Legal support Chloe Castle.Marie is a true professional, who provided us with so much valuable advice. It was our first time buying a property and she ensured to attend to all of our questions and support us throughout every step. We have now completed on the property and we could not have asked for better solicitors. Thank you Marie (and Chloe)!
Meaby & Co were recommended by a friend as I wanted a good London based solicitor to manage my property purchase on the coast. They were excellent and correspondence from Marie Waters and Chloe Castle was always swift, clear and helpful. I would highly recommend this firm and will use them again in future. Many thanks
Peter Russell and Nicky Cleightonhills at Meaby and Co have dealt with four purchases and three sales for us in the last six years - and if that doesn't speak for itself, some of these were very complicated transactions. We shopped around on price and they are among the cheapest, and they are never (as lots of lawyers are!) slow to respond or needed chasing. Nicky Cleightonhills in particular went above and beyond the call of duty time and time again to make sure we were informed and advised - and there's a big difference! Truly a lawyer who earned every damn penny of the fee. Couldn't recommend more highly to anybody at any level of transaction.
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