Pricing -Fees

Commercial Conveyancing

From December 2018, all solicitors must prominently publish the price of service information on their websites to safeguard the consumer’s interests. At Aramm Legal Ltd, we are working with and implementing this requirement now so that potential clients can be sure they are making an informed choice and obtaining a great service at a competitive cost. Since its inception, our firm has been working on providing our clients with clear quotations and our best fee estimates, so we welcome this added safeguard for our clients and consumers in general. We know that each transaction is different and “one size does not fit all”, so to obtain your “bespoke quotation”, please telephone us so we can discuss your matter with you.

By way of explanation, quotations are influenced by a number of factors, including the price of the prospective property (a higher price brings a conveyancing firm higher risk), whether mortgage finance is either needed for a purchase or a mortgage needs to be redeemed, the length of the Lease and the annual rent and whether any other documentation is required (for example, Rent Deposit Deeds, Asset Purchase Agreements or Licences to Assign, etc.).

The best way to obtain a bespoke quotation adapted to your unique transaction is to telephone us at 02071836904. We will always provide you with a quotation in writing which will be “tailor-made” to your transaction. The person dealing with or supervising your matter will be a solicitor with at least 7 years of experience, no huge teams working from huge offices. This way, you can be sure that the person in responsible for your matter will be qualified to do the job.

Here are some examples of commercial conveyancing fee quotations you can expect in a selection of situations; we have estimated third-party costs which are included (named as disbursements) such as Stamp Duty Land Tax, official copies of Land Registry documents, searches and Land Registry fees. Please note these examples are illustrative only; to obtain an individual quotation, please contact us.

1. ABC Business Ltd owns a commercial freehold unit which it intends to lease to a third party for a term of 10 years at an annual rent of £30,000 per annum. There is no superior Landlord, and no Rent Deposit Deed is required. In this situation, the solicitor’s fee quotation can be expected to be in the region of £1,200 – £1,500. They can expect to spend approximately £6 obtaining up-to-date office entries from the Land Registry.
2. ABC Business Ltd is purchasing a freehold unit for £325,000. It is obtaining mortgage funding. There are no title issues, no requirements for indemnity insurance, and no management company involved. The matter is expected to proceed smoothly, with both parties cooperating promptly. In such transactions, the solicitor’s fee quotation can be expected to be in the region of £2,000 – £2,500. They can expect to spend approximately £350 on instructing the searches required and disbursements of a further £140 for Land Registry searches and registration and Stamp Duty in the region of £5,800 (as of October 2018).
3. ABC Business Ltd wishes to take on a new Lease of new premises. The Lease is for a period of 10 years with an annual rent of £20,000 per annum. A Rent Deposit Deed has required as well as a Licence for Alterations in respect of ABC Business Ltd’s fit-out works for the property. In such a transaction, the legal fees are likely to be £1,800 and disbursements. They will also pay a search fee at the Land Registry of around £3 and a registration fee of around £80. They may have to pay Landlord’s fees, but we can endeavour to negotiate them away or negotiate a cap to protect you.
4. ABC Business Ltd is purchasing an existing Lease for £60,000. A Licence to Assign is required. In this transaction, the solicitor’s fees are likely to be £1,500. They will also be required to pay in the region of £25 to the Land Registry in respect of registering the transfer of the Lease and preregistration searches.
5. ABC Business Ltd is assigning its Lease to a third party. There is a requirement to enter into a Licence to Assign with the Landlord and the new tenant. In such a transaction, legal fees are likely to be £1,050. Your solicitor may need to provide an undertaking to the Landlord in respect of the Landlord’s fees. In such a situation, the fee for providing such an undertaking will be in the region of £125. They will also be required to provide up-to-date copies of the Lease and title, which in most instances can be obtained from the Land Registry for approximately £9.

As you can see from the above examples, there are many factors that control how complicated and time-consuming buying, selling or leasing a commercial property can be. The best thing to do is obtain a quote by calling us on 02071836904 and chatting through your intentions. Remember, only solicitors or firms regulated by the Solicitors Regulation Authority are obligated from December 2018 to provide you with upfront clarity so ensure you read the small print if you obtain quotations from other firms!