Ward Hadaway is supporting Small Business Saturday by providing some top tips to help SMEs stay on the right track with so much uncertainty expected in the future.
The physical base on which a business is built remains vitally important.
Acquiring a property from which to operate or expand your business is a major investment and a number of factors need to be weighed up before any decision is made.
For example, what are the short, medium and long term requirements of your business?
What is the current planning position of the property or site and how does that fit into your existing and future requirements?
How is the property or site affected by environmental considerations and what is its current state and condition?
Then you have tax and funding considerations and what kind of warranty the property comes with, if it is a new-build development.
In the case of relocation, you can add issues such as the treatment of your existing premises – will you sell or in the case of a lease seek to terminate or surrender up your existing lease? There will also be potential issues associated with dilapidations and the overall timing of the relocation.
Selling existing premises requires consideration around issues such as how to reduce or limit any ongoing liability under the lease if the premises are leasehold, tax and environmental considerations and, depending on the property, whether overage/clawback provisions need to be made.
Little wonder, when all this is taken into account, that good professional advice is a must.
At Ward Hadaway our property team have a wealth of experience in acting for businesses on premises acquisition, disposal and relocations in a wide range of sectors, including manufacturing and industrial, hotel and leisure, professional, agricultural and energy sectors.
Because we believe in providing a complete comprehensive service to our clients, we field multi-disciplinary teams tailored to suit your needs with specialists in property and real estate, planning, construction, finance, property litigation and corporate all available and ready to assist.
As a result, we can support and advise on every aspect of your sale, purchase or relocation and where appropriate liaise and consult knowledgeably with your own support team – whether they be your accountants, tax advisors, planning advisors, contractor or surveyor.
This support is available at every stage, from initial negotiations to the final move.
Our service includes advice on:
- Break clauses
- Enterprise zones
- Freehold and leasehold acquisitions and disposals
- Lease terms
- Overage and clawback
- Property disputes
- Property finance
- Sale and leasebacks
- Stamp duty land tax
For help with making your next move, please get in touch.