Commercial Property Purchase Solicitor Dublin

Commercial Property Conveyancing Dublin & Ireland

What factors does a business need to consider when purchasing a commercial property?

1. Location: Consider the location of the property and its proximity to transport links, amenities, and other businesses. The location can affect the potential rental income, resale value, and demand for the property.

2. Zoning and planning: Check the zoning and planning regulations for the property to ensure that it is suitable for your intended use. You may need planning permission for certain types of use, and zoning regulations may limit the types of activities that can be conducted on the property.

3. Condition of the property: Have the property surveyed to assess its condition and identify any potential issues or defects. This can include structural issues, building code violations, or environmental concerns.

4. Cost: Consider the cost of the property, including the purchase price, stamp duty, legal fees, and any other associated costs. Be sure to factor in ongoing expenses such as maintenance, insurance, and property taxes.

5. Financing: Determine how you will finance the purchase, whether through a mortgage, bank loan, or other means such as director’s loan. Be sure to consider the interest rates, repayment terms, and any fees associated with the financing option.

6. Legal matters: Carmody Morans expert commercial property solicitors will review and negotiate the terms of the purchase agreement, including any conditions of sale, warranties, and representations.

7. Tenancy: If the property is currently let, consider the terms of the existing lease and the rights and obligations of the tenant and landlord. You should also assess the rental income and the potential for future rental income.

Overall, purchasing a commercial property in Ireland requires careful consideration of various factors. It is important to seek professional advice from a solicitor, surveyor, and /or accountant to ensure that you make an informed decision and understand the legal and financial implications of the purchase.

At Carmody Moran Solicitors our expert commercial property team will work closely with you to ensure that your transaction is handled efficiently and smoothly, with a focus on protecting your interests and ensuring that your purchase is legally sound. We will handle all aspects of the transaction, from contract negotiations to due diligence and closing, providing you with the peace of mind that comes from knowing that your investment is secure.

Our Commercial Law & Commercial Property Conveyancing Services include:

• Contract review and negotiation
• Due diligence, including title searches and surveys
• Advising on zoning and planning issues
• Handling all legal documentation, drafting paperwork
• Reviewing finance arrangements and the legal work associated with the same
• Attending to closing
• Registration and post-closing matters

We understand that purchasing a commercial property is a significant investment, and we are committed to helping you achieve your goals. Our team is dedicated to providing you with exceptional service, the personalised attention of senior highly experienced solicitors that a boutique law firm can deliver, and effective legal solutions that are tailored to your unique needs.

If you’re looking for a solicitor to assist with your commercial property purchase in Ireland, contact us today to schedule a consultation. Let us help you make your investment a success.

To arrange a consultation at Blanchardstown or Dublin City Centre call us today on 018272888 or email [email protected] and our expert commercial property team will be available to assist.

Stamp Duty on Commercial Property in Dublin & Ireland

What are the rates of commercial stamp duty in Ireland

Commercial rates of stamp duty are payable on non-residential property for Stamp Duty purposes in Ireland.

This includes:

• agricultural and non-agricultural land
• sites (other than sites purchased with a connected agreement to build a house or apartment)
• commercial or business premises, including offices, factories, shops and public houses
• the creation or transfer of options over land
• interests in land (such as wayleaves or other rights to lay cables, pipes, wires or other conduits)
• easements (a right over someone’s property such as a right of way)
• the creation or transfer of a life interest
• the creation or transfer of a remainder interest
• business assets like goodwill or book debts
• shares, stocks, and marketable securities
• policies of insurance.

There is a single rate of stamp duty rates on commercial property purchases as of September 2021, at a rate of 7.5% stamp duty.

It’s important to note that stamp duty rates are subject to change over time, and there may be exemptions or reliefs available for certain types of property transactions. For example, there may be lower rates or exemptions for transactions involving certain types of businesses or properties, such as agricultural land or certain types of charitable organisations, or land re-structuring schemes, and these rates and various relief schemes can fluctuate and be subject to expiration dates.

When planning to purchase a commercial property in Ireland, early advice with an expert commercial property solicitor and tax advisor to ensure that you fully understand the stamp duty implications of the transaction and any potential exemptions or reliefs that may be available is always to be recommended.

Expert Commercial Property Purchase team at Carmody Moran Solicitors

Our experienced and expert commercial property team at Carmody Moran Solicitors have successfully worked with clients on property acquisitions for clients from a variety of various professional, business, and manufacturing backgrounds, for small and medium businesses, to franchises, and chains. Our business clients range from high net worth individuals with substantial property portfolios and business assets, to medical practices, auctioneers, pharmacy chains, small and medium companies, suppliers and wholesalers, manufacturing industries, engineering companies, information technology companies, accountants and other professionals.

To arrange a consultation at Blanchardstown or Dublin City Centre at our Mount Street Office at 27 Mount Street Upper, Dublin 2, off Merrion Square, call us today on 018272888 or email [email protected] and our expert commercial property team will be available to assist.