Commercial property solicitors in Manchester can provide legal services that deal with any matter related to commercial property. This can refer to the sale of a commercial property or to its rental. Our Manchester solicitors can also help investors with in-depth legal advice on how to invest in commercial property, by opening a commercial company or an investment fund.
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What are the main legal services on commercial property in Manchester?
If you are the owner of a commercial property in Manchester, or you want to purchase a commercial property or to rent it, you can rely on the legal services offered by our commercial property solicitors in Manchester. Our team has gained legal expertise in all areas of law related to commercial property, litigation included. However, the basic services you can expect from our team of solicitors in Manchester are the following:
- development of commercial property projects – our team can help investors with advice on the construction law, property law, signing contracts with private or public entities, as well as in tax matters;
- financing a commercial property project – obtaining the necessary funding for building a new property project or investing in a property project can be a challenging task, especially when the investors are not familiarized with all the funding schemes that are prescribed by the national law;
- legal representation in starting an investment fund suitable for the commercial property project (the main focus of our commercial property solicitors in Manchester is to find the most tax efficient option);
- representing the landlord of commercial properties in Manchester in matters related to signing a lease or ending a lease and we can also represent clients who act as tenants of such properties;
- commercial due diligence – you can easily rely on our lawyer in Manchester if you want to verify if a commercial property is sold in good faith and if it respects the legal requirements for being sold.
What is the current investment environment for commercial properties in Manchester?
Manchester can be seen as a booming market with regards to the available commercial space and the building projects that are currently developed. The latest figures show that investments in commercial properties can offer relevant business opportunities. Below, investors interested in this market sector can find out the key points of this industry:
- in 2013, the take-up of commercial properties (referring to leased commercial property space) was of 81,812 square meters and in 2018, it reached 112,227 square meters, while in 2019, it increased at 134,709 square meters;
- in the first half of 2019, 52% of the commercial space that was leased in Manchester was represented by Grade A space (located in the city center), which represented the highest increase since 2010;
- the increase was determined by the demand in offices from the services industry (25%), technology, media and telecommunication sectors (24%);
- the rent for 1 square foot (or 0.09 square meters) was in the first half of 2019 of GBP 36, while in the 3rd quarter of 2019, the rent slightly increased at GBP 36.50;
- investment volumes in the commercial property market in the 3rd quarter of 2019 reached GBP 44 million, while in the 1st quarter of the year it stood at GBP 32 million.
What is the law on commercial property in Manchester?
There are numerous rules of law which are pertaining to commercial property, and our lawyer in Manchester can advise on the manner in which such regulations will create obligations and grant rights to various parties. One important rule of law which is applied in this case is the Landlord and Tenant Act 1954, which can be studied on the online portal of the UK Government.
The Act is equally applicable to parties who are landlords and tenants of commercial or residential properties, and it describes the obligations each parties have. Part II of the Act refers only to parties which are commercial entities and professional bodies. The Act stipulates the manner in which a landlord can terminate a commercial tenancy, which, according to the law, can only be done by a notice sent in due time by the landlord.
Persons who are interested in leasing commercial property to another company or to a professional body can request in-depth legal advice on the tenancy agreement from our commercial property solicitors in Manchester. Given that this represents a commercial agreement, our team can present the provisions that should be included, so that the rights of both parties will be protected. For additional information, please contact our Manchester law firms.
If you have not yet relocated to Manchester, but you want to buy a commercial real estate property or to rent a place, you can contact our immigration solicitors in Manchester.
Our lawyers can present the procedures you must follow prior to your arrival in this country and they can also help you prepare the documentation necessary for the purchase of the property.
Likewise, we can also represent persons who are selling a commercial real estate property, regardless of the reason of sale or the residency of the sellers.
If you want to sell your business and you must dismiss employees, our employment solicitors in Manchester can help you with the necessary legal support during this procedure, which will also create certain financial obligations towards your employees.
You can contact our solicitors in Manchester city centre for information on due diligence services that we offer for commercial properties.
This refer to the verification of the property’s documents, the conditions in which the respective place is sold, the possibility of having any hidden flaws, debts and other similar matters that can be of importance for the new owner.