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
Constantly growing rental yield is one of the reasons why most people invest in commercial real estate. Thus, finding the right te..Read More
Buying your first office space is more straightforward than renting it. The process can be tiring and confusing,and signing the ma..Read More
It has been a long wait for Melbournians, but the news of easing of the COVID-19 restrictions has come as a respite for one and al..Read More
Investing in commercial property is a long-term undertaking which requires a deep understanding of the location, developer, and th..Read More
The thickly populated and highly commercialised city of Sydney is one of the most sought-after regions for commercial investments...Read More
The COVID-19 pandemic has been particularly distressing for businesses as many were forced to close their stores or have been depr..Read More
Australia has been changing at a fast pace with several development projects being undertaken across the states. Most of the const..Read More
For a long time commercial real estate investing was considered the playground of wealthy business magnates with surplus funds. Ho..Read More
The vibrant city of Brisbane has been identified as a high performing region for commercial property during the COVID-19 pandemic...Read More
Sydney has been highly popular among local and international students for its high standard of education and excellent student lif..Read More