Important Aspects to Consider When Looking to Acquire Commercial Real Estate in Australia

Whether you are setting up a new business or expanding an existing entity in Australia, if you need commercial space, this article was written with you in mind. Of course, acquiring commercial real estate is a big step and not something to enter into without doing due diligence, and in this short article, we outline important aspects to take into account when acquiring commercial real estate.

Buy or lease?

This is the first question that must be answered; if your organisation has the capital to purchase the real estate without putting the company at risk, buying might be the best option. Real estate is obviously a good long-term investment, and there might be attractive tax concessions with a purchase, as opposed to leasing. Consulting with a commercial property buyers agent in Sydney would give you all the pros and cons, plus they can facilitate any land purchase on your behalf. If purchasing is not an option, you need an experienced commercial lawyer to review the lease to ensure that your interests are protected and there are no hidden restrictions.

Choosing commercial real estate

This is not something that should be rushed, and with a leading Australian commercial real estate agent in your corner, you can view many listings until you find what you are looking for. Things to consider include location, accessibility, amenities, size and suitability, to name but a few. When you find a commercial property that best meets your needs, you can enter into negotiations for a purchase or lease. Click here for tips on buying real estate.

Feasibility study

In order to accurately evaluate a commercial property, it is best to carry out a feasibility study that would assess the potential of the venue, calculate the necessary work to make the venue ready for occupation, and then calculate the cost. If everything works out, the green light can be given, and the acquisition process can begin. If not, then alternative venues need to be considered, and in doing this, you should not compromise on your requirements.

Lease terms & conditions

Commercial real estate leasing is such a complicated thing and you require an experienced commercial real estate attorney who will guide you through the negotiation process. It can be the length of the lease, restrictions imposed to the lease by the landowner, possible constructions and permits, etc. are all those important factors that should be elaborated. Depending on the nature of business, local authorities may have some noise limitations past certain hours, and there may be pollution problems.

Relocating the business

This would be a large-scale project, which requires the services of specialist contractors with the resources and expertise to undertake the relocation. Many preparations should be made and when the project is underway, the business company must have the capacity to keep on with its operation without much inconvenience.

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