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.