Retail and Commercial

Many people consider purchasing retail or commercial property as an investment, particularly because, in many cases, the tenant is responsible for paying a significant portion of the outgoings.

However, these transactions can be more complex than standard residential purchases.

Commercial and retail property transactions often involve:

• GST considerations, including whether the sale is a going concern
• Review of existing Retail or Commercial Leases
• Disclosure obligations under retail leasing legislation
• Rent, outgoings and adjustment calculations
•  Assignment of leases
• Transfer of business assets, plant and equipment or inventory (where applicable)
• Verification of zoning and permitted use
   

A careful review of the Contract of Sale and Lease documentation is essential to ensure you understand exactly what you are purchasing and what income and obligations attach to the property.

Obtaining proper advice before signing will help protect your investment and ensure the transaction proceeds smoothly through to settlement.