DX 706793 Coventry
Our commercial property team of Solicitors in Coventry understands the necessity for cost-effective, pragmatic commercial advice. We have many years’ experience in dealing with all types of property transactions, from small leases of office space to high value and complex multi-million-pound property acquisitions or disposals.
Areas of work which our commercial property team covers include:
- The purchase and sale of commercial, industrial or investment property
- Lease variations dealing with ground rent reviews
- Leases of property for landlords or tenants
- Lease renewal, rent review arrangements and licensing
- Development and building agreements
- Funding and financial arrangements
- Security documentation
- Town and country planning issues
- Estate development
- Environmental issues
- Property litigation and building disputes
- Letting and management
- Construction issues
- Compulsory purchases
- Property issues for charitable bodies
Right to Manage
What is the Right to Manage and why would this benefit me?
Most of you will have heard of the term ‘A Right to Manage’ but what does this actually mean?
A Right to Manage (RTM) allows leaseholders to take over their management of the building with or without the Landlords consent. This was introduced through the Commonhold and Leasehold Reform Act 2002.
In order to do so there’s strict eligibility criteria.
- Being responsible for collecting and managing the service charge.
- Maintaining the communal areas in the building and grounds.
- Maintaining and controlling the repairs to the structures of the building.
Having overall control will mean that costs can be monitored and repairs commissioned in a timely manner.
Why Extend Your Lease?
A long lease is far more valuable and if action is not taken to extend the lease, the lease will expire and you may no longer have rights to remain in occupation. This situation is rare but not impossible and if you find yourself in this situation you may have to rely on rights contained in section 10 of the Local Government and Housing Act 1989.
It is far better to extend the lease as early as possible as the process/premium payable to extend a short lease will be far cheaper if there is a longer term lease term left.
What is collective enfranchisement and what are the benefits
Collective enfranchisement is the right for the tenants upon qualification to buy the freehold of the building or part of the building.
Once it is established that you qualify, a nominated purchaser will need to be appointed, this can be a group of tenants as individuals or an incorporated company. Band Hatton Button can deal with the incorporation of a company if this is necessary.
Please note that all participating tenants will be responsible for paying both the Landlords and Landlords surveyor’s costs.
Landlord and Tenant
Section 5 Notices and the implications
The Landlord and Tenant Act 1987 makes it a criminal offence for freeholders to sell the freehold of your building to a third party without having first offered it to you as the flat owners on the same terms and premium.
If a Section 5 notice has been received by you, the clock is ticking and you have a limited time to respond to the freeholder confirming your interest in purchasing the freehold.
There are many benefits to purchasing the freehold:
- Savings on the service charge- by controlling the costs of maintenance.
- Savings on the ground rent- by reducing the rent payable in the lease to a peppercorn.
- Having control- owing the freehold will give you more control on the day to day running of the estate.
- Variations to the lease- such as increasing the term to make it a more valuable asset.
The process is not a simple one and you can only take the benefit as a majority group.
If you are a dentist, GP, optician or other healthcare practitioner and you are looking to buy or sell a practice, wish to enter into a partnership, propose to purchase a practice freehold or you are having issues with an employee, we are here to help. As a full-service firm, we advise healthcare professionals on a wide range of matters, including:
- Buying and selling dental practices
- Regulatory matters including CQC requirements and transfer of the NHS contracts
- Setting up partnerships, expense sharing partnerships and LLPs
- Advising on incorporation of your practice
- Drafting shareholders’ agreements
- Advising on retirement from a partnership including inheritance tax planning
- Property advice including buying and selling the practice property and lease renewals
- Employment matters including employment contracts and disputes with employees
- Hygienist contracts and contracts with associates
- Commercial disputes
Our client base covers healthcare professionals across all areas, including NHS and private dentists, GPs, surgeons, opticians, physiotherapists and care homes.
For more information on how our healthcare lawyers can help you, please contact Marta Fisher, who leads our healthcare offering.
Dina Parmar, Partner
024 7601 6573
Daniel Blood, Partner & Head of Commercial Property
024 7623 7373
Nick Button, Senior Partner
024 76 23 7366
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