- April 20, 2017
- Posted by: Steven Mather
- Category: Legal News
Commercial Property Standard Enquiries Forms
In every Commercial Property transaction, it is usual for standard enquiries to be raised by way of the Commercial Property Standard Enquiry (CPSE) Forms. There are currently 7 CPSE forms in use:-
- CPSE 1 – General pre-contract enquiries for all commercial property transactions
- CPSE 2 – Supplemental pre-contract enquiries for properties subject to tenancies for commercial use
- CPSE 3 – Supplemental pre-contract enquiries for commercial property on the grant of a new lease
- CPSE 4 – Supplemental pre-contract enquiries for commercial leasehold property on the assignment of a lease
- CPSE 5 – Enquiries before the surrender of a rack rent commercial lease
- CPSE 6 – Supplemental pre-contract enquiries for properties subject to residential tenancies
- CPSE 7 – General short form pre-contract enquiries for all property transactions
Our Commercial Property Solicitors in Leicester explain in this blog what CPSEs are and how and when they are used.
The above forms each contain an extensive list of questions that will provide useful information in any commercial property transaction, as they are intended to cover all standard issues that information should be provided on.
Form CPSE 1 is designed to primarily cover all forms of commercial property transactions and contains questions relating to environmental issues, boundary matters, the physical condition of the property, any notices or disputes affecting the property, capital allowances, etc. The form is very extensive and when completed by a Seller or a Landlord, would provide sufficient and in-depth information relating to the property.
CPSE’s 2-7 are supplemental enquiries for use alongside CPSE 1 and are more tailored to the individual circumstance surrounding a particular property transaction. For example, when acting on behalf of a Landlord granting a new lease to a Tenant, the Landlord will be expected to complete both Form CPSE 1 (in relation to the property) and Form CPSE 3 (specifically relating to the grant of the new lease).
Despite the forms above being extensive and covering the majority of points that should be raised in a Commercial Property transaction, a prudent solicitor acting on behalf of a Purchaser or prospective new Tenant will review the contents of the above forms and raise additional enquiries for answering should anything further need clarification.
Should you require advice on a Commercial Property transaction please contact our commercial property solicitors on 0116 255 1811 or via email to KAdams@josiahhincks.co.uk.
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