Commercial property lawyers Melbourne and Ballarat

Buying or selling commercial property is very different to purchasing a home. There are many things that you need to consider to make sure the property meets your business needs both now and in the future.

Our experienced commercial property lawyers can help you buy or sell your property so you can focus on your business with confidence.

Buying commercial property

When purchasing a commercial property you want to ensure that it’s right for your business. You can do some research before you enter into the agreement and factor these into your negotiations. There are often more lengthy negotiations for commercial property compared to when you buy a home.

Some of the things that you may need to consider when buying a commercial property include:

  • The type of business that’s allowed on the property;
  • How the area is zoned;
  • If the business already has a lease in place;
  • The best way to structure the purchase for accounting and tax purposes;
  • Whether you need to pay GST on the purchase;
  • The structure of the purchase where it’s part of a going concern;
  • If there are any restrictions, covenants or easements on the property that may affect how you can use it;
  • Whether you will need to pay land tax on the property; and
  • What outgoings you will need to pay on the property.

Selling commercial property

When selling a commercial property you can negotiate the terms of the sale with the buyer. Some of the things you may need to consider include:

  • The best way to structure the sale for accounting and tax purposes;
  • How much deposit you want;
  • What condition you need to leave the property in; and
  • Whether there are any restrictions or covenants on the title that you need to have removed, like a mortgage.

You will also need your conveyancer or lawyer to prepare a section 32 statement that outlines specific details about the property for the purchaser.  

Why MNG Lawyers

Our commercial property lawyers understand what the fine print in your commercial property contract means and can explain it to you in plain English. They will listen to your issues and help you negotiate your agreement and make sure all the paperwork is in order so you can focus on your business.

Frequently Asked Questions

Buying commercial property can be very different from purchasing residential property in several ways including:

  • You can negotiate the terms of the purchase contract more;
  • The deposit asked for is often higher;
  • GST may be payable on the purchase;
  • You may need to carefully review an existing lease which may be in place;
  • There may be many special conditions attached to the purchase; and
  • The timelines between signing the contract and settlement may be longer.

Get in touch today, always in confidence.

We’re here to help. It’s our top priority to ensure your needs and concerns are met every step of the way.
Scroll to Top