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• can only be for pharmacies operated by companies
• A buyer inherits all liabilities including any tax hence the need for thorough enquiry (by us and your accountant) or ‘Due Diligence’ and the negotiation of Warranties to protect the buyer
• The property and any lease will remain with the company so the landlord consent for assignment is not needed normally! Nor an EPC or Energy Performance Certificate
• TUPE does not apply –so no legal duty to consult with the employees prior to completion of the sale
• Tends to be more tax effective for the Seller(s)
• Do not to forget to notify NHS England re change of directors
See our top tip re the fact ‘renewable’ leases under the Landlord and Tenant Act 1954 may not in practice be so renewable!
You and your lender want at least 10 years under a renewable lease- consider the business plan and the time it will take for repayment of your commercial loan
The ability to share other parts of the premises with other (healthcare) professionals may aid footfall and help pay towards rent-the negotiation of a clause allowing these 3rd parties to share under a licence and without going through an expensive subletting procedure
Ensure any alteration clause allows room for coping with likely change under legislation- any substantial changes may require that the local GPhC inspector be consulted re the need for new registration and for that matter building regulation approval and or planning permission may be required
Interested in how much your legal work may cost to undertake?
Let us create a free estimate for you, just click here to start
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Interested in how much your legal work may cost to undertake?
Let us create a free estimate for you, just click here to start
Let HealthCare Law put together a free estimate for your legal assistance. All estimates are put together by one of our solicitors and are aimed to give you a guide as to what is involved with getting your requirements dealt with quickly, simply and professionally.