Commercial Property
The Commercial Property elective deals with the following
aspects of commercial property work:
- The drafting, negotiation and variation of commercial
leases
- Dealings with the commercial lease: assignment and
subletting
- The taxation of commercial leases
- Security of tenure for commercial leases
- The planning system (with emphasis on its relevance to
conveyancers)
A high proportion of commercial property in England and Wales is
leasehold. The commercial lease will be considered in detail, both
to identify the issues that commonly arise during the course of
negotiation and dealings and to familiarise the student with the
structure, purpose and taxation of this important land holding
device. Security of tenure in relation to commercial leases will be
fully considered.
The value of land is substantially controlled by the extent to
which development is permissible on the land. This, together with
the increasing concern for the environment, has led to a large
increase in the importance of planning law, with firms establishing
planning and environmental law sections.
The issues covered during the course of this elective are of
wide ranging application, arising throughout the whole spectrum of
commercial work, from the simple conveyancing transaction to the
company takeover.
The knowledge gained will be equally useful both in private
practice and in the public sector. The planning system is
administered by local authorities and they, together with other
public sector land owners, hold substantial commercial property
portfolios.
The content of the full-time and part-time course is identical,
but they are structured differently.