Commercial Property

Recently we have been approached by an Agent to say can they prepare Commercial Leases. The Legal Services Act 2007 (LSA) governs the provision of legal services in England and Wales and defines the concept of "reserved legal activities." These are tasks deemed essential for protecting the public, and as such, can only be performed by individuals who are regulated by professional bodies. One of the key activities regulated by the LSA is the preparation of certain legal documents, including leases. When it comes to property law, the preparation of leases is considered a reserved instrument activity. This means [...]

Is it Possible for a Company with Model Articles of Association to Operate with a Sole Director? This has been a longstanding question in the legal world. Historically, inconsistent and contradictory case law did not give a clear answer. However, the High Court case of KRF Services (UK) Ltd [2024] seems to have offered more clarity on the Court’s view on this topic. The Old Position One of the reasons as to why the answer to this question has been uncertain is because historically there has been conflicting case law. These being Hashmi v Lorimer- Wing and Fore Fitness [...]

Earn out Provision disputes in Share Purchase Agreements Earn-outs in Share Purchase Agreements (SPAs) are payment structures tied to the future performance of the target company. They allow buyers and sellers to share future business risks and benefits, aligning both parties' interests by rewarding the seller if the business performs well post-sale. Here's a closer look at earn-outs and ways to manage common disputes arising from them. Earn-out Provisions Earn-outs are commonly used when the sellers remain involved in the business, often as directors or key employees, after the sale. They are especially useful when the buyer and seller [...]

The New Labour Government may lead to a rise to office-to-residential conversions. A recent study by Lambert Smith Hampton found that there are roughly 12.9 million square feet of unused office space in the East and South-East of England. The Labour Government has pledged to create 1.5 million homes during the current parliamentary cycle. This could mean we see an influx in offices being converted for residential purposes. The Law and recent changes Office-to-residential conversions saw a rise due to the 2013 Permitted Development rights. They are regulated by the Town and Country Planning (General Permitted Development) (England) Order [...]

Attwells’ Commercial Team has advised a long-term client on their purchase of an industrial warehouse in the Ipswich area. The deal, worth just over one million pounds, marks another successful completion for the team towards the end of the third financial quarter of the year. The Commercial team advising on the sale was Jessica Yenson (Solicitor), Nick Attwell (Managing Partner & Solicitor) and Ben Friar (Paralegal). To learn more about the commercial law services that we offer, please visit our Business Law web pages. Our blogs and articles are correct at the time of writing. These have been [...]

Break clauses are often found in residential and commercial leases. They allow a party to end the tenancy before the full term. They normally contain strict conditions that need to be adhered to; if they are not, the clause may not be deemed to have been activated. What is a break clause? A break clause is a clause written into a lease that allows the term to be terminated before the end of the term. They usually allow the tenant to terminate; however, sometimes, they can allow the landlord to terminate, and occasionally, both parties will be given the option. Break [...]

A tenant can be given a right to occupy a property under either a lease or a licence. However, besides this, they are substantially different from one another. It is important to know what these are and how they differ. A lease is a legally binding contract, that gives the tenant exclusive right over a property for specified length of time (commonly between 5 and 10 years). It also outlines the tenant’s rights and responsibilities. It is a more secure document that cannot be changed unless agreed by both parties. A licence on the other hand is more informal. [...]

Share Price Agreements are significant documents signed by both parties that lay out the information regarding the private purchase and sale of shares in a company and the mechanics of how such a sale would work. Within these agreements, there is a list of promises made by the seller about the information provided regarding the company; these are called warranties. A breach of warranty occurs when the Seller's promises are found to be false or inaccurate. This could happen either before the company's sale or after completion. Breaches of Warranty Claims could include the seller making a false statement [...]

Borrowing money is a common financial practice that allows individuals, businesses, and governments to achieve their goals, whether it's buying a home, starting a business, or funding public projects. However, borrowing money comes at a cost, and one of the most significant factors determining that cost is the interest rate. It’s important to understand what an interest rate is and so here is the simple definition, Interest is the price you pay to borrow money or the return earned on an investment. For borrowers, interest is most often reflected as an annual percentage of the amount of a loan. [...]