Buying or selling commercial property is a major transaction. Whether it’s a shop, office, industrial unit, or land for development, the legal process in Scotland has specific steps that must be followed carefully to protect your position. Hastings Legal has the expertise to guide you from negotiation through to completion.

The Importance of Due Diligence

Before agreeing to a deal, it’s essential to carry out due diligence to check:

• Title deeds — confirming ownership and any burdens or restrictions.
  
• Planning permissions and building warrants.
  
• Existing leases or tenancy agreements affecting the property.
  
• Environmental and safety compliance.
  
• Access rights, services, and boundaries.

Negotiating the Missives

In Scotland, the contract for a property sale is formed through missives — a series of formal letters between solicitors. We:

• Draft or review offers to ensure key protections are included.
  
• Negotiate conditions such as repairs, completion dates, and VAT treatment.
  
• Ensure missives are only concluded once all checks are satisfactory.

Funding and Security

If you are buying with a commercial mortgage or loan, your lender will require security over the property. We handle:

• Liaising with lenders to meet their requirements.
  
• Ensuring conditions are satisfied before drawdown.
  
• Registering the security in the Land Register of Scotland.

Selling a Commercial Property

As a seller, you need to:

• Provide clear title and relevant documentation to the buyer.
  
• Disclose any issues that could affect the sale.
  
• Coordinate the settlement and handover of keys.
  

We prepare the title pack and manage communication with the buyer’s solicitor to keep the process moving.

Special Considerations

• Investment property — existing tenants’ rights must be preserved.
  
• Development land — conditions relating to planning and utilities.
  
• Listed buildings — consent needed for alterations.
  
• VAT and LBTT — potential tax implications for both buyer and seller.
  

Next Steps

Commercial property transactions move quickly once missives are concluded, so preparation is key. Hastings Legal can handle every stage to ensure the process is smooth and your interests are protected.

Call 01573 225999 or email legal@hastingslegal.co.uk to arrange an initial consultation.