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Below is a high-level reference guide for purchasing a commercial property in England and Wales. Depending on the property, the sale structure and the buyer’s financing facilities, the process would vary.
Piccadilly Estates consultants will guide you through the process to complete your investment smoothly.
Purchasing a commercial property in England — whether in your own name or through a company you establish in England — can be a complex process, but with the right guidance and preparation, it can be a smooth and rewarding experience. Here is a step-by-step guide to help you navigate the process of buying a commercial property in England:
Consider the costs and fees associated with purchasing a commercial property, such as commercial mortgage payments, Stamp Duty, solicitor fees and advisory fees. Clarify your investment objectives: rental income, capital appreciation, or a blended strategy? It may be helpful to get a commercial mortgage agreement in principle to know exactly how much you can borrow and what your target returns are.
At this stage, you should also consider whether to purchase in your own name or through a UK Ltd company (SPV). Each structure carries different tax and financial advantages; Piccadilly Estates will work through this comparison with you.
Research the area you want to invest in, considering factors such as transport links, growth potential, local tenant profile and comparable rental rates. Evaluate your commercial property investment options across asset classes such as new-build commercial units or multiple residential units (minimum 6), retail units, offices, hotels, industrial properties, mixed-use buildings or standalone properties. Select the location and property type combination that aligns with your risk profile and long-term strategy.
Piccadilly Estates can assist you in finding commercial properties that meet your budget and investment preferences. A medium- to long-term financial analysis is prepared for each option, covering rental income projections, net yield, cash-on-cash return, capital appreciation scenarios and post-tax net income calculations. Following site visits, a property is selected and contact is made with the seller to begin preparing an offer ahead of signing Heads of Terms.
A formal offer is submitted on your behalf for the selected commercial property. Once the offer is accepted, Heads of Terms (HoT) are signed, both parties instruct solicitors who specialise in commercial property, and the due diligence process begins.
If purchasing through an SPV, the UK Ltd company formation process is also initiated at this stage. Piccadilly Estates can provide guidance on solicitor selection and company formation.
Your solicitor will arrange searches to provide more information about the property, including Land Registry, local authority, environmental, flood risk, ground stability and drainage searches. These searches can flag potential issues. Title and planning status are examined and the ownership conditions are clarified.
Your solicitor will also contact the seller’s solicitor to verify the information set out in the Heads of Terms, including the lease agreement(s) with the tenant(s) and the terms of the sale contract relating to VAT, insurance, maintenance costs, deposit and payment schedule for the purchase price. Findings are reported.
This is an important step, managed by your solicitor, to confirm that the funds used for the purchase are from a legitimate source. This is a statutory requirement under the UK Money Laundering Regulations 2017 and applies to all buyers regardless of nationality or property value. The required documentation is submitted by you to your solicitor based on your purchase structure.
If the purchase price is to be paid in full without mortgage finance, a surveyor is appointed by the buyer to carry out a technical and physical assessment of the property. The valuation process is completed and findings are reported.
If a commercial mortgage is being used, the lender will appoint its own surveyor and this process is managed as part of the mortgage stage.
If a commercial mortgage is planned, the process is initiated with a commercial mortgage broker. The broker gathers the necessary information and documentation relating to both the buyer and the property by liaising with the buyer and the solicitor. Discussions are held with lenders to secure the best available terms for interest rate, term length and repayment schedule. A mortgage offer letter is obtained and the financing timeline is planned.
Piccadilly Estates can provide recommendations for mortgage brokers.
Once all searches and enquiries have been completed and the terms have been agreed, contracts can be exchanged, legally committing you to the purchase. Both parties’ solicitors manage the process. At this stage, a deposit — typically 10% of the purchase price — is transferred from your account to your solicitor’s account and subsequently paid to the seller’s solicitor. The completion date is confirmed.
Up until this stage, the process proceeds under the Heads of Terms and either party retains the right to withdraw without penalty.
The final step in the process, legal completion involves transferring the balance of the purchase price to the seller and receiving the keys to your new commercial property. Following completion, your solicitor manages the Stamp Duty payment, title registration, tenancy management handover and tax registration processes.
Privacy Policy for Piccadilly Estates
At Piccadilly Estates, accessible from https://www.piccadillyestates.co.uk/, one of our main priorities is the privacy of our visitors. This Privacy Policy document contains types of information that is collected and recorded by Piccadilly Estates and how we use it.
If you have additional questions or require more information about our Privacy Policy, do not hesitate to contact us.
General Data Protection Regulation (GDPR)
We are a Data Controller of your information.
Piccadilly Estates legal basis for collecting and using the personal information described in this Privacy Policy depends on the Personal Information we collect and the specific context in which we collect the information:
Piccadilly Estates needs to perform a contract with you
You have given Piccadilly Estates permission to do so
Processing your personal information is in Piccadilly Estates legitimate interests
Piccadilly Estates needs to comply with the law
Piccadilly Estates will retain your personal information only for as long as is necessary for the purposes set out in this Privacy Policy. We will retain and use your information to the extent necessary to comply with our legal obligations, resolve disputes, and enforce our policies.
If you are a resident of the European Economic Area (EEA), you have certain data protection rights. If you wish to be informed what Personal Information we hold about you and if you want it to be removed from our systems, please contact us.
In certain circumstances, you have the following data protection rights:
The right to access, update or to delete the information we have on you.
The right of rectification.
The right to object.
The right of restriction.
The right to data portability
The right to withdraw consent
Log Files
Piccadilly Estates follows a standard procedure of using log files. These files log visitors when they visit websites. All hosting companies do this and a part of hosting services’ analytics. The information collected by log files include internet protocol (IP) addresses, browser type, Internet Service Provider (ISP), date and time stamp, referring/exit pages, and possibly the number of clicks. These are not linked to any information that is personally identifiable. The purpose of the information is for analyzing trends, administering the site, tracking users’ movement on the website, and gathering demographic information.
Cookies and Web Beacons
Like any other website, Piccadilly Estates uses ‘cookies’. These cookies are used to store information including visitors’ preferences, and the pages on the website that the visitor accessed or visited. The information is used to optimize the users’ experience by customizing our web page content based on visitors’ browser type and/or other information.
Google DoubleClick DART Cookie
Google is one of a third-party vendor on our site. It also uses cookies, known as DART cookies, to serve ads to our site visitors based upon their visit to www.website.com and other sites on the internet. However, visitors may choose to decline the use of DART cookies by visiting the Google ad and content network Privacy Policy at the following URL – https://policies.google.com/technologies/ads
Privacy Policies
You may consult this list to find the Privacy Policy for each of the advertising partners of Piccadilly Estates.
Third-party ad servers or ad networks uses technologies like cookies, JavaScript, or Web Beacons that are used in their respective advertisements and links that appear on Piccadilly Estates, which are sent directly to users’ browser. They automatically receive your IP address when this occurs. These technologies are used to measure the effectiveness of their advertising campaigns and/or to personalize the advertising content that you see on websites that you visit.
Note that Piccadilly Estates has no access to or control over these cookies that are used by third-party advertisers.
Third Party Privacy Policies
Piccadilly Estates’s Privacy Policy does not apply to other advertisers or websites. Thus, we are advising you to consult the respective Privacy Policies of these third-party ad servers for more detailed information. It may include their practices and instructions about how to opt-out of certain options.
You can choose to disable cookies through your individual browser options. To know more detailed information about cookie management with specific web browsers, it can be found at the browsers’ respective websites.
Children’s Information
Another part of our priority is adding protection for children while using the internet. We encourage parents and guardians to observe, participate in, and/or monitor and guide their online activity.
Piccadilly Estates does not knowingly collect any Personal Identifiable Information from children under the age of 13. If you think that your child provided this kind of information on our website, we strongly encourage you to contact us immediately and we will do our best efforts to promptly remove such information from our records.
Online Privacy Policy Only
Our Privacy Policy applies only to our online activities and is valid for visitors to our website with regards to the information that they shared and/or collect in Piccadilly Estates. This policy is not applicable to any information collected offline or via channels other than this website.
Consent
By using our website, you hereby consent to our Privacy Policy and agree to its terms.
Welcome to Piccadilly Estates!
These terms and conditions outline the rules and regulations for the use of Piccadilly Estates’s Website, located at https://www.piccadillyestates.co.uk/
By accessing this website we assume you accept these terms and conditions. Do not continue to use Piccadilly Estates if you do not agree to take all of the terms and conditions stated on this page.
The following terminology applies to these Terms and Conditions, Privacy Statement and Disclaimer Notice and all Agreements: “Client”, “You” and “Your” refers to you, the person log on this website and compliant to the Company’s terms and conditions. “The Company”, “Ourselves”, “We”, “Our” and “Us”, refers to our Company. “Party”, “Parties”, or “Us”, refers to both the Client and ourselves. All terms refer to the offer, acceptance and consideration of payment necessary to undertake the process of our assistance to the Client in the most appropriate manner for the express purpose of meeting the Client’s needs in respect of provision of the Company’s stated services, in accordance with and subject to, prevailing law of Netherlands. Any use of the above terminology or other words in the singular, plural, capitalization and/or he/she or they, are taken as interchangeable and therefore as referring to same.
Cookies
We employ the use of cookies. By accessing Piccadilly Estates, you agreed to use cookies in agreement with the Piccadilly Estates’s Privacy Policy.
Most interactive websites use cookies to let us retrieve the user’s details for each visit. Cookies are used by our website to enable the functionality of certain areas to make it easier for people visiting our website. Some of our affiliate/advertising partners may also use cookies.
License
Unless otherwise stated, Piccadilly Estates and/or its licensors own the intellectual property rights for all material on Piccadilly Estates. All intellectual property rights are reserved. You may access this from Piccadilly Estates for your own personal use subjected to restrictions set in these terms and conditions.
You must not:
Republish material from Piccadilly Estates
Sell, rent or sub-license material from Piccadilly Estates
Reproduce, duplicate or copy material from Piccadilly Estates
Redistribute content from Piccadilly Estates
This Agreement shall begin on the date hereof. Our Terms and Conditions were created with the help of the Free Terms and Conditions Generator.
Parts of this website offer an opportunity for users to post and exchange opinions and information in certain areas of the website. Piccadilly Estates does not filter, edit, publish or review Comments prior to their presence on the website. Comments do not reflect the views and opinions of Piccadilly Estates,its agents and/or affiliates. Comments reflect the views and opinions of the person who post their views and opinions. To the extent permitted by applicable laws, Piccadilly Estates shall not be liable for the Comments or for any liability, damages or expenses caused and/or suffered as a result of any use of and/or posting of and/or appearance of the Comments on this website.
Piccadilly Estates reserves the right to monitor all Comments and to remove any Comments which can be considered inappropriate, offensive or causes breach of these Terms and Conditions.
You warrant and represent that:
You are entitled to post the Comments on our website and have all necessary licenses and consents to do so;
The Comments do not invade any intellectual property right, including without limitation copyright, patent or trademark of any third party;
The Comments do not contain any defamatory, libelous, offensive, indecent or otherwise unlawful material which is an invasion of privacy
The Comments will not be used to solicit or promote business or custom or present commercial activities or unlawful activity.
You hereby grant Piccadilly Estates a non-exclusive license to use, reproduce, edit and authorize others to use, reproduce and edit any of your Comments in any and all forms, formats or media.
Hyperlinking to our Content
The following organizations may link to our Website without prior written approval:
Government agencies;
Search engines;
News organizations;
Online directory distributors may link to our Website in the same manner as they hyperlink to the Websites of other listed businesses; and
System wide Accredited Businesses except soliciting non-profit organizations, charity shopping malls, and charity fundraising groups which may not hyperlink to our Web site.
These organizations may link to our home page, to publications or to other Website information so long as the link: (a) is not in any way deceptive; (b) does not falsely imply sponsorship, endorsement or approval of the linking party and its products and/or services; and (c) fits within the context of the linking party’s site.
We may consider and approve other link requests from the following types of organizations:
commonly-known consumer and/or business information sources;
dot.com community sites;
associations or other groups representing charities;
online directory distributors;
internet portals;
accounting, law and consulting firms; and
educational institutions and trade associations.
We will approve link requests from these organizations if we decide that: (a) the link would not make us look unfavorably to ourselves or to our accredited businesses; (b) the organization does not have any negative records with us; (c) the benefit to us from the visibility of the hyperlink compensates the absence of Piccadilly Estates; and (d) the link is in the context of general resource information.
These organizations may link to our home page so long as the link: (a) is not in any way deceptive; (b) does not falsely imply sponsorship, endorsement or approval of the linking party and its products or services; and (c) fits within the context of the linking party’s site.
If you are one of the organizations listed in paragraph 2 above and are interested in linking to our website, you must inform us by sending an e-mail to Piccadilly Estates. Please include your name, your organization name, contact information as well as the URL of your site, a list of any URLs from which you intend to link to our Website, and a list of the URLs on our site to which you would like to link. Wait 2-3 weeks for a response.
Approved organizations may hyperlink to our Website as follows:
By use of our corporate name; or
By use of the uniform resource locator being linked to; or
By use of any other description of our Website being linked to that makes sense within the context and format of content on the linking party’s site.
No use of Piccadilly Estates’s logo or other artwork will be allowed for linking absent a trademark license agreement.
iFrames
Without prior approval and written permission, you may not create frames around our Webpages that alter in any way the visual presentation or appearance of our Website.
Content Liability
We shall not be hold responsible for any content that appears on your Website. You agree to protect and defend us against all claims that is rising on your Website. No link(s) should appear on any Website that may be interpreted as libelous, obscene or criminal, or which infringes, otherwise violates, or advocates the infringement or other violation of, any third party rights.
Your Privacy
Please read Privacy Policy
Reservation of Rights
We reserve the right to request that you remove all links or any particular link to our Website. You approve to immediately remove all links to our Website upon request. We also reserve the right to amen these terms and conditions and it’s linking policy at any time. By continuously linking to our Website, you agree to be bound to and follow these linking terms and conditions.
Removal of links from our website
If you find any link on our Website that is offensive for any reason, you are free to contact and inform us any moment. We will consider requests to remove links but we are not obligated to or so or to respond to you directly.
We do not ensure that the information on this website is correct, we do not warrant its completeness or accuracy; nor do we promise to ensure that the website remains available or that the material on the website is kept up to date.
Disclaimer
To the maximum extent permitted by applicable law, we exclude all representations, warranties and conditions relating to our website and the use of this website. Nothing in this disclaimer will:
limit or exclude our or your liability for death or personal injury;
limit or exclude our or your liability for fraud or fraudulent misrepresentation;
limit any of our or your liabilities in any way that is not permitted under applicable law; or
exclude any of our or your liabilities that may not be excluded under applicable law.
The limitations and prohibitions of liability set in this Section and elsewhere in this disclaimer: (a) are subject to the preceding paragraph; and (b) govern all liabilities arising under the disclaimer, including liabilities arising in contract, in tort and for breach of statutory duty.
As long as the website and the information and services on the website are provided free of charge, we will not be liable for any loss or damage of any nature.
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