Buying or selling commercial or industrial property

When buying or selling commercial or industrial property, it is important that you have a legal team who is experienced in this field. We have over 35 years experience dealing with such properties. You need to consider the terms of any tenancy. We will give you a full advice on the terms and conditions of the commercial lease. Land tax needs to be considered as this tax is payable on properties which are not your principal place of residence where the land value of the property exceeds the Revenue New South Wales threshold each year. If you are a vendor, you need to consider whether you are wanting your purchaser to pay a share of this tax on settlement. If you are a purchaser, you need to factor this in as an additional cost or where applicable we will try to negotiate for it to be deleted from the contract. GST is a crucial factor as the sale of most non residential properties will be a GST taxable supply and GST needs to be added to the price. When buying commercial or industrial property, it is important to consider the zoning and whether you need development consent for your intended use or you may need us to refer you to a private planner for advice. It is also vital that you consider the entity in which you are intending to purchase the property before a contract is signed, whether as an individual, in your self managed super fund, or a family trust. This needs to be considered and the advice of your accountant obtained before signing a contract.

Contact our expert team

Office: Suite 4B, Ground Floor, 32-34 Florence Street, Hornsby, NSW 2077

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