Commercial Property Costs
No one likes surprises
Taunton Solicitors are happy to provide you with a detailed estimate of the costs likely to be involved in commercial transactions, whether they are simple property transactions or involve business transfers. Costs are based upon recorded time at a typical hourly rate of £300 plus VAT.
It is very difficult to provide general guidance as to the likely costs, given that the circumstances of each transaction will vary considerably.
Many commercial transactions involve new leases or lease assignments. In relation to that aspect, simply by way of example, we set out the costs of acting for the tenant taking a new lease of business premises.
Assuming that there is no premium and an annual rent of say £11,500, with a security deposit but no guarantor, we would anticipate costs in the region of £1,250 plus VAT and the cost of necessary searches and documents.
Stamp duty is payable in relation to some transactions and leases must be registered if granted in excess of 7 years.