There are a number of items which you need to prepare after you have listed your commercial property for sale or lease. These may include:
1. Disclosure Document - To make sure that the people looking at buying or leasing your property to keep the information confidential and don’t tell your current tenants if there are any.
2. Information About the Property – Basic overview of your commercial property including size of property, office space size (may be different to the size of the property if there is yard space), type of power (i.e. 3 phase power for construction and machinery or single phase power), water supply, phone lines, access to internet, etc…
3. Are there current tenant and when does this expire? – This is for people who are looking at buying a commercial property as an investment, or if they are looking to move into the property themselves.
4. Prospective Income or Lease Payments and Outgoings for Property – How much can the prospective buyers make from leasing the property or how much will the lessee need to pay for to lease the property off you. Will the lessee be paying for electricity, excess electricity, water, excess water, etc… as a part of the lease agreement? This is essential for both a buyer and lease agreement so that everyone can work out the exact payments required from the start.
5. Contract of Sale or lease – Contract to transfer the ownership of your commercial property to a new owner or leasing agreement for the new leaser.
These are only a few items which need to be prepared before you sell your business or franchise and some of these items can be prepared by Business Brokers/ Real Estate Agent and Solicitors in the sales process. Leasing laws can be different in each state, but for a good overview of what you need to know about leasing a commercial property, please read the following links
The Opal Tower crisis in Sydney, which led to the evacuation of the residents after cracks appeared in the building, came as a sur..Read More
The Australian housing market has been experiencing a downslide since the last quarter of 2018 and has made many investors wary of..Read More
The mere mention of Sydney brings a smile on the faces of property developers and investors as the Harbour City has become the str..Read More
The primary purpose of a commercial venture is to attract maximum buyers, and busy precincts are the best places to grab their att..Read More
Imagine the luxury of stepping into a high-rise building’s elevator and alighting at the top floor to head straight into a l..Read More
Australia has always been a land of thriving real estate sector with its vast expansive area and low population. Over the past few..Read More
When it comes to foreign investors rolling in millions of dollars in the Australian commercial property sector, no one can beat th..Read More
The Australian real estate market never ceases to surprise the investors interested in the development of commercial structures. A..Read More
The Australian commercial property sector is expected to grow in 2019 as the unemployment rate is dipping and the demand for prope..Read More
Commercial property has always been on the radar of smart investors as they offer a considerable cash-flow advantage and the suret..Read More