Are you an international individual or business eyeing an investment in the UK’s commercial or residential real estate sector?
Winfields Commercial Agents proudly represents a diverse clientele of overseas investors and corporations. Our services encompass rent collection, procuring building insurance, ensuring regulatory adherence, and collaborating with our clients’ accounting and legal teams. Actively, we discover, acquire, oversee, and liquidate properties tailored for our global clients.
Your investment vision guides our search. To deliver the best fit, we need to gauge your expectations, balancing the perfect property with the right price and risk level.
Together, we'll establish the optimal strategy for the transaction. It's crucial to collaborate with a proficient accountant for both accounting and tax considerations. If required, we can introduce you to trusted firms we regularly partner with for our international clientele.
When procuring UK commercial real estate, up to 5% Stamp Duty might apply. Given the fluid nature of legislation and tax norms, it's wise to consult with us for the most recent updates.
Some assets attract a 20% Value Added Tax (VAT). To reclaim this, buyers must register for VAT. Furthermore, treating the transaction as a Transfer of a Going Concern (TOGC) can circumvent this VAT imposition.
While a non-resident individual might be subjected to IHT on their UK assets, non-resident corporations typically aren't. However, such stipulations can evolve, and consulting a tax adviser is recommended.
From the moment of exchange or completion, properties must be insured at the right reinstatement value. Winfields Commercial Agents maintains affiliations with top UK insurance brokers, ensuring policies backed by esteemed insurers. Typically, vital insurance coverage spans Fire, Lightning, Theft, Flood, and Terrorism. In most scenarios, especially for commercial assets, these insurance costs can be offset to the tenants.
You should expect the following from your lawyer:
Promptly carry out due diligence on the property, including its structure, lease, and regulatory compliance, giving a clear picture of the investment.
Safeguard client funds in secure accounts, ensuring timely exchange, completion, and fund release as per your directives.
Provide expert insights on any complexities – given the UK's rich history, properties may come with intricate ownership trails, making the best ones not always the simplest.
Furthermore, considering the overall purchase expenditure is pivotal. Winfields Commercial Agents assists in breaking down potential transaction costs. For instance, a UK property purchase might require the buyer to allocate between 5.75% – 6.5% of the buying price to cover stamp duty, legal charges, valuation fees, and any bank arrangement fees (if relevant).
Winfields Group is an innovative, independent multi-brand estate agency. We offer our clients the best brands, with the best people, in the best locations.
