A representative from the specialist Business Transfer team within our Parent Company Miller Commercial.

In order to commence marketing of a commercial property it is necessary to hold a valid EPC. In order to conclude a letting this needs to have a minimum “E” Rating. The Minimum Energy Efficiency Standard (MEES) for domestic and non-domestic property came into force in England and Wales on 1 April 2018 and restricts the granting or renewal of commercial leases where the property has an EPC rating of less than “E”. From 1 April 2023 regulations will state that you cannot continue to let any property with an “F” or a “G” rating There are some exemptions to the above and recommend you refer to the below link, which provides further guidance from the government:

https://www.gov.uk/government/publications/non-domestic-private-rented-property-minimum-energy-efficiency-standard-landlord-guidance

Absolutely. We are very familiar with the South West and therefore we can advise on the type of community and schooling etc within the vicinity of the business.

Stock at Valuation – this is the value of the stock which is assessed at completion and is payable in addition to the purchase price.

When supplying and selling alcohol, an individual will also have to have a Personal Licence, which allows them to sell alcohol.

A Premises Licence relates to the supply and sale of alcohol from a premises, which is issued upon application by the relevant Council.

We have strong relationships with all lending institutions and can make a direct referral, or typically we would recommend purchasers speak with a Commercial Broker, who will guide them through the process and invariably be able to search the market to obtain the best deal.

Yes, as the application is related to the business being able to provide enough income to service the debt and afford the individuals a living.

Finance is readily available for freehold property and businesses. However for leasehold businesses (where one does not actually own the property, but rents it annually) funding can be limited and normally relates to the value of the fixtures and fittings.

This will vary from buyer to buyer and business to business. Sometimes buyers find what they’re looking for straightaway whereas others will want to take the time and wait for the perfect opportunity. It really depends on how quick as a buyer you want to move and get the business started. Inevitably when buying any business there will always be some form of compromise between your perfect business idea and what is actually available.

As a seasonally influenced region, with holiday makers visiting in the peak summer months, typically buyers start their search in September/October ahead of the following season, which is normally denoted by Easter, through to Whitsun and then summer proper.

This would depend upon whether you have any property for sale, the level of borrowing requirement and what experience you have in this sector. All these issues are not insurmountable and indeed most transactions require an element of a property related matter and indeed funding. We are here to offer you guidance in respect of your search.

We refer to leases enjoying the Security of Tenure Provision, meaning that the tenant has the automatic right to have the lease renewed at the end of the initial term, as long as they have been adhering to the lease terms, namely paying the rent and maintaining the property.

Your Solicitor will undertake legal searches and Due Diligence in respect of the full transfer of the business, including any website domain, any advance monies in respect of future bookings, staff, licences and fixtures and fittings.

For a leasehold premises, the business is valued based on its fixtures and fittings (chattels to run the business) and the goodwill, namely the profit that the business generates year on year. For a freehold purchase the same applies with the addition of the property value. We are able to provide advice to both purchasers and their advisors (typically Accountants and Solicitors) in respect of the ‘breakout’ or apportionment of value.

Yes, a lot of buyers who purchase businesses through us are new to whichever sector, be it hospitality, leisure or retail.

A trading business of any type that is to be transferred as a going concern, i.e. it is not closed and is trading to the public.

Miller Commercial in most cases are unable to do this because there are many variables that impact upon the value of a property and until we have inspected and carried out our research we are not in a situation to provide an informed opinion.

Again, this varies from case to case. We will need to inspect the property thoroughly and if the property is an investment we will need copies of leases; if the property is a going concern we will require the last 3 years profit & loss accounts along with various other information regarding the operation of the business.

We generally request 2 weeks from instruction to completion. Sometimes we can turn reports around in a shorter timescale depending on workload and equally we may request longer if a valuation is complex or say for court purposes.

We do not operate a fixed fee scale instead we assess each valuation on a case by case basis and we will happily provide a quote with no obligation attached. Fees generally range between £750 – £1,500, however, a fee could be above or below this range depending on complexity.

Miller Commercial facilities management team work closely with a national health and safety provider to ensure your building is fully compliant.

Miller Commercial has a dedicated team of facilities managers, as well as a team of Chartered Surveyors, with experience in building repair diagnosis. We can meet with contractors to discuss repairs and obtain quotations for you and help you decide what the best option is for you. The lease will dictate who is responsible for paying for the repair. Our team of surveyors will be able to guide you through this without the need for expensive legal fees.

Miller Commercial has an accounts system that talks electronically directly to our bank account. As soon as the tenants’ funds are cleared they are sent electronically by BACS to your nominated bank account, without any delay.

The chasing or monies owed is heavily regulated. Miller Commercial management surveyors have decades of property management experience between them. They keep fully up to date with current rules and regulations with regards to what can, and what cannot be done when chasing arrears of rent and service charge, and work closely with local law firms when it is necessary to escalate matters to that level. Having a professional managing agent working for you will help contain any arrears and potentially increase the chances of recovering monies owed to you. Miller Commercial has an arrears containment programme that, once all arrears have been collected, will reduce the chances of it happening again.

Quite often the fees of a professional managing agent are recoverable from the tenant, especially if there is a service charge. The answer will lie within each lease: we will be happy to take a look at your lease and comment upon recoverability free of charge.