Our Commercial Property division provides advise to landlords and tenants for property related matters throughout Spain.
Out team covers both lease and property acquisition.
Our experienced, bi-lingual team can assist in a wide range of sectors including offices, warehousing, leisure etc.
We advise tenants and landlords in the hospitality industry, general office, warehousing and in a variety of other business sectors.
If you need assistance with an existing premises in Spain or are considering the purchase or lease of a property, please contact us today for a no obligation consultation.
Still have a question?
Our experienced commercial property law team can guide you through the process from planning stage to completion.
Our comprehensive service typically includes collating up to date paperwork for the property, assessing potential tax liabilities, identifying suitable real estate agents, contract negotiation and managing the sale through to completion at the notary in Spain.
The applicable tax on commercial property purchase in Spain largely depends upon the situation of the vendor and purchaser. If both parties are liable to VAT, then this tax is due at 21%.
However, if for instance you are buying as an individual then property transfer tax will apply.
The benefit of the purchase being subject to IVA is the opportunity to reclaim the tax paid.
There are 4 main costs of purchasing a commercial property in Spain. These are tax (VAT, Stamp Duty or Property Transfer Tax as applicable), legal fees, land registry fees and notary fees.
The monthly rental is subject to IVA. The current rate is 21%.
The lease would be governed by the Spanish Lease Act (Ley de Arrendamiento Urbano). This legislation does not cover rent reviews.
The terms of your lease should state the conditions for rent reviews. Typically, there is provision for an annual review based upon the Consumer Price Index (Indice de Precios al Consumo).