Important Aspects to Consider When Purchasing Commercial Real Estate in Sydney

Regardless of the industry, buying commercial real estate is a big step and you would have to make a serious long-term commitment and this major asset would likely become your company HQ. Such a big move demands careful planning and consideration, and with that in mind, here are some important aspects to take into account before signing any commercial real estate purchase.

  • Location – Land prices are considerably lower once you get outside of city limits, yet the further you are from your customer base, the higher your running costs. Think about the future; you might, for example, wish to set up a base near a major port, if exporting goods; you should look at your long-term business plan and bear this in mind when choosing a location for your business. Once you find the ideal venue, talk to a leading property law firm in Sydney and let the legal experts scan the listing and advise accordingly.
  • Size – The last thing you want is to have to relocate again in a couple of years, due to continues expansion; investing in a larger venue than you need bodes well for the future. A good entrepreneur plans ahead of time and if you are sure that the property is right for your company, consult with an independent commercial real estate law firm and they will scrutinise the contract and carry out surveys, should they deem it necessary.
  • Price – If a commercial property is fairly priced, you are more inclined to make the investment; a good real estate agent would tell you if the property is overpriced. This significant investment should not put the company in danger; funding should be secured with flexible repayment options. There are legal essentials that every business owner should know.
  • Restrictions – It is paramount that you have a legal team investigate the freehold to find out if there are building or noise regulations in place; such a thing could be disastrous if allowed to happen, which is why we use a lawyer to carry out an investigation. There could be State regulations that limit construction to 5 storeys and you need to be aware of this prior to buying the property.
  • Potential – Take a close look at the venue and understand the potential it offers; nothing stays the same and a growing business has needs. If you currently have 5 delivery vans, have you considered how many that could be 5 years down the road? Extra space can be utilised as you expand and by planning for the future, you are heading for success with the resources you need.

It is vital that any real estate acquisition does not put a financial strain on the business, if the purchase is in line with your long-term plane, so much the better! Structured growth minimises risk to the business entity and with the right law firm on the case, the acquisition should be a smooth transition to bigger and better things.

 

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