Our Client was looking to purchase a business in Oxted Surrey as an ongoing concern and with the business, acquire the commercial lease for the business premises. The business is located in a period, multi-let commercial building so to understand the potential lease liabilities gave instructions for us to undertake a survey of the demise. The lease only had 2 years left to run.
We carried out a survey of the demise and also included a cursory inspection of the wider building to note issues which may impact our Client through the service charge. Our inspection also included the external elements of the main building to advise our Client on the potential issues which may arise.
Our Client wanted to fully understand his liabilities under the lease and in the event he renewed the lease, what defects and issues may occur in the future.
Our survey highlighted a number of issues with the building. The issues were reported to the Client which include evidence of movement.
Our Client was able to discuss the issues with the current owner of the business and the Landlord to ensure that he understood the full implications of the potential purchase.
At Tim Greenwoods and Associates we appreciate our Clients concerns over potential liabilities. We work with our Clients to ensure we deliver the bespoke advice they need to make informed decisions when acquiring a building on a freehold or leasehold basis.
