Buying and selling

Buying a dental practice will almost always involve the acquisition of its premises, either freehold or leasehold.

Transferring the freehold is normally a relatively uncomplicated procedure once the seller’s title has been confirmed.

When taking over leasehold premises, there are two prime considerations; the present incumbent must have the property owner’s consent to the transfer, and the period remaining on the current lease. If a new lease is to be granted, with the incoming tenant responsible for maintenance and repairs, a photographic schedule of condition showing the current state of the building should ideally be attached to the lease documentation as a safeguard against future disputes.

A part of property due diligence is the completion of CPSE forms (Commercial Property Standard Enquiries) which require the seller to provide comprehensive information on matters as diverse as fire safety and service charges – but the ‘buyer beware’ principle still applies and buyers should still obtain their own professional survey.