Includes information on:

• Freehold Purchase
• Leasehold Acquisition
• Why Retain An Agent?
• Ereira Mendoza's Function
• Commercial Property - Useful Links

Information supplied by Ereira Mendoza

There are numerous considerations and choices to be taken into account when seeking to acquire business premises in the UK.

The primary of those are likely to be as follows:

• The purchase of a freehold or the taking of a lease?
• The use for which the premises is required (refer to the use class guide)?
• The location?
• The size of space required?

Whatever premises you are seeking your options for that search are to either:

1. Search for the premises yourself.
2. Retain a commercial agent to act on your behalf and to advise you throughout the process.

Standard practice in the UK is that the vendor (in a freehold transaction), or a landlord/lessor/assignor (in a leasehold transaction) will instruct a “disposing” agent to act on their behalf to sell or let the premises. The disposing agent’s job is to market the premises and secure the most favourable deal they can on their clients' behalf. Upon a successful “disposal” the agent will receive the agreed fee from their client.

In the majority of transactions the party looking for space retains an “acquisition” agent to act on their behalf to locate and negotiate the best possible deal on their behalf. Upon a successful “acquisition” the agent will receive the agreed fee from their client. 

The choice of option 1 or 2 is down to you. However, as mentioned at the outset, when taking business premises there are numerous considerations and we strongly recommend you be very well advised and assisted which ever route you choose to take.