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Tips to Speed Up Your Commercial Property Transaction
All parties want a smooth and quick transaction. The following simple steps can make a significant impact on the speed and efficiency of your commercial property transaction.
Landlord/Seller:
- It is a useful exercise for your solicitors to review the title regularly and remove any entries relating to expired leases or agreements. This prevents last minute applications to the Land Registry having to be made and dealing with requisitions at a time when your solicitor should be exchanging or completing the documents.
- Another helpful practice is for your solicitors to maintain a concise data room with up to date title information including deeds and documents referred to in the title. This enables title information to be issued swiftly and helps facilitate the other side’s due diligence process.
- It is also beneficial for you and your solicitors to procure relevant consents (such as the lender’s or superior landlord’s consent) or third party deeds of covenant which may be required before completion can take place. It is important to deal with these early on especially if they relate to a third party who has little or no interest in the transaction and may not appreciate the urgency of the situation e.g. consent of the owner of a neighbouring property in respect of a restrictive covenant on the title.
- It is handy if the landlord has documents such as Energy Performance Certificates, Fire Risk Assessments, asbestos surveys, insurance schedule, service charge budgets and other management information readily available and even better if these are already in the solicitors’ data room. These can be issued at the outset of the transaction along with replies to CPSEs and will prevent additional enquiries being raised in this regard.
- The lack of a Land Registry compliant lease plan can often lead to delays. This can usually be the case for lease renewals where a previous plan is no longer Land Registry compliant. A landlord and its legal team should always consider whether a new plan is required and commission it at an early stage to prevent delays.
Tenant/Buyer:
- A recurring cause of delays which we come across is that fit-out plans are not ready to be submitted to the landlord for approval at the appropriate time. This can cause delays especially if the fit-out requires an element of structural works such as a lift or a staircase to be installed. This can also be problematic if the tenant needs to carry out certain suitability tests to floor slabs or walls in which case an access licence may be required. Having the fit-out plans ready at an early stage can significantly speed up a transaction, as it allows time to deal with any further requirements the landlord may have in respect of the works.
- Late requests for additional rights can delay the process. If you have any specific requirements regarding signage, access, installing plant such as air conditioning units or using common areas for events etc., it is best to incorporate these into the Heads of Terms.
- Please ensure that you confirm details of the tenant entity at an early stage. If this is a newly incorporated SPV then the landlord may well require additional security such as a rent deposit or a guarantor and therefore this can lead to further negotiations at a late stage.
Common:
- Execution of documents- if either party is signing by power of attorney or trustees are involved, please make sure you provide your lawyers with the original instrument at an early stage as the other side will most likely request a certified copy.
- If either the landlord or the tenant is an overseas entity, please ensure that you make arrangements to obtain a legal opinion by overseas lawyers at an early stage as this will likely be a requirement of either side.
If you require assistance with a commercial property transaction, contact Aisha Anjum.
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UK-India Trade Negotiations To Recommence In 2025
The UK is set to resume negotiations with India over a free trade agreement in the new year, following a break in discussions due to the recent elections in both nations, as confirmed by Prime Minister Keir Starmer’s office on Monday.
Prime Minister Starmer aims to foster a “new strategic partnership” with India, with a focus on strengthening cooperation in key areas such as security, education, technology and climate change. This comes after Starmer’s meeting with Indian Prime Minister Narendra Modi at the G20 summit in Brazil, where both leaders discussed the path forward for UK-India relations.
“A new trade agreement with India will generate significant economic benefits, supporting jobs and prosperity across the UK,” said Starmer, whose Labour Party assumed office in July.
In addition to his discussions with Prime Minister Modi, Starmer also engaged with Chinese President Xi Jinping, urging the establishment of more “consistent and durable” ties between the two countries, particularly in areas such as trade, the economy, and climate change.
With a commitment to securing the fastest sustained economic growth within the G7, Starmer is positioning the UK to leverage trade agreements with key global partners. The Organisation for Economic Co-operation and Development (OECD) has predicted that UK growth in 2025 will be the lowest among G7 nations, emphasising the importance of these international negotiations.
The previous Conservative administration had engaged in extensive trade talks with India, but these discussions stalled in March due to the Indian elections. A British official stated that finalising an agreement ahead of the Indian elections was not feasible.
Bilateral trade between the UK and India, the world’s fifth- and sixth-largest economies, was valued at £42 billion ($53.2 billion) in the 12 months leading up to June, with UK exports to India accounting for £16.6 billion.
Ahead of India’s general election earlier this year, which secured Modi a third consecutive term, there were indications that India would prioritise completing trade deals with the UK and Oman.
However, previous challenges in the negotiations have centred on issues such as India’s high import duties on British whiskey and its demand for greater visa access for Indian students and businesses.
“India remains a crucial trading partner for the UK. We are optimistic that a mutually beneficial trade agreement can be reached, benefiting both nations,” commented British Business Minister Jonathan Reynolds.
If you or your connections require legal advice, please contact Jayesh Jethwa or fill out our enquiry form below.
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Quastels Recognised in The Legal 500 UK 2025 Rankings
We are delighted to announce that Quastels has been recognised in this year’s The Legal 500 UK 2025 rankings across two categories:
- ‘Leading Firm’ in Commercial Property: Corporate Occupiers
- ‘Firm to Watch’ in Industry Focus: Retail & Consumer
About The Legal 500
The Legal 500 is one of the most prestigious legal directories, assessing and ranking law firms and lawyers based on independent research, client feedback, and industry expertise. Recognition in The Legal 500 is a testament to a firm’s high-quality legal services and strong client relationships.
At Quastels, we take great pride in our reputation for excellence and client satisfaction, and we are honoured to be acknowledged in this year’s rankings.
Key Rankings
Commercial Property: Corporate Occupiers
For the fourth consecutive year, our Commercial Property team has been ranked in the Commercial Property: Corporate Occupiers category. Additionally, we are proud to have earned a ‘Client Satisfaction’ badge, reflecting our dedication to exceptional service and expertise in this field.
The ranking highlights our extensive legal expertise, particularly in:
- Portfolio management
- Development transactions
- Pre-lets
- Joint ventures
Our practice spans the retail, leisure, and office sectors, delivering tailored advice to businesses navigating commercial property matters.
Recognised Legal Professionals
The Legal 500 ranking specifically commends our team leaders and key individuals for their contributions:
- Mark Cornelius (Partner and Co-head) – Recognised for his expertise in headquarters relocations, acquisitions, and disposals.
- Naomi Jones (Partner and Co-head) – Praised for her work in commercial real estate and conditional sale and purchase agreements.
- Aisha Anjum (Senior Associate) – Noted for her real estate finance work, regularly assisting property funds and institutional investors.
- Stephanie Houston (Senior Associate) – Recognised for her focus on the construction aspects of property-related joint ventures.
Client Testimonials
“They know their market and have solid experience. Approachable and ensures the task and advice is thorough and completed in appropriate timescale.”
“Naomi Jones – detailed, efficient, responsive, approachable and commercially minded. Highly recommended.”
“Mark Cornelius has a deep knowledge and understanding of commercial property. He is very personable and always provides legal advice which is clear, commercial and pragmatic, enabling us to close transactions without compromising on risk.”
“We have always experienced professionalism, reliability and commercial awareness with Quastels. The team provides invaluable guidance, backed by a wealth of expertise and experience. Quastels are our go-to for all legal matters, providing outstanding service every time.”
“Naomi Jones is fantastic and always gets the work done. She is available whenever we need her. She always delivers results. Her team is also fantastic.”
“Aisha Anjum is an absolute pleasure to work with – her knowledge is always relevant and concise. She works quickly and transparently, with any delays being communicated well in advance. She helped me navigate a particularly difficult lease reassignment in 2023 that tested everyone’s patience, but not Aisha’s! Absolutely unflappable, and extremely competent. Delighted to work with her and I look forward to our next transaction.”
Industry Focus: Retail & Consumer – ‘Firm to Watch’
This year, we are pleased to expand our presence in The Legal 500 rankings, being named a ‘Firm to Watch’ in the Retail & Consumer industry focus category.
Our Brands & Luxury sector offering received special recognition for its cross-disciplinary approach, providing legal expertise across Employment, Corporate & Commercial, and Real Estate.
The Legal 500 highlighted the contributions of:
A Commitment to Excellence
We are incredibly proud to be recognised in both Commercial Property: Corporate Occupiers and Retail & Consumer, reaffirming our standing as a trusted legal partner.
A heartfelt thank you to our clients, colleagues, and The Legal 500 for their continued support and kind words. This recognition motivates us to continue delivering exceptional service across all our practice areas.If you require legal assistance, please contact us – we would be delighted to help.
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