Commercial Lawyers
Whether you’re selling, purchasing, or leasing a commercial property, we can assist you in navigating the complex process. We will provide you with legal guidance and advice throughout the entire process; from drafting & reviewing the contract or lease to negotiating terms and navigating any potential legal issues that may arise.
Commercial Sale
When selling commercial property, the first step is to determine the property’s value is to set an asking price that is realistic and attractive to potential buyers. It’s important to have a clear understanding of the current market conditions. By marketing the property effectively and reaching out to potential buyers, this will increase the chances of a successful sale.
The second step in selling your commercial property is to ensure the Contract aligns with your desired outcome. Our team of lawyers can assist in negotiating the terms of the sale on your behalf, and so it is important to engage us to draft the Contract for you or to review the Contract prior to you sign, to ensure your interests are protected. With the right preparation, the sale process can be simple and quick.
Commercial Purchase
Buying commercial property can be a wise investment for those looking to expand their business or generate passive income. You’ll need to have a clear understanding of your investment goals and developing a strategy on how the property you’re interested in can meet those needs.
It’s important to thoroughly research the market and analyse potential properties to ensure you’re making a financially sound decision. You’ll need to work with a knowledgeable real estate agent who can help you navigate the buying process and negotiate a fair price.
Once you’ve found the right property, it’s crucial to have one of our solicitors review the necessary documentation to ensure the Contract protects your interests. It’s important to note that the property is at the Buyer’s risk from 5pm on the first business day after the Contract date. Therefore, we would advise inserting a special condition into the Contract that states that the risk remains with the Seller until Settlement. This would ensure that if anything happens to the property, you would not be liable. Ultimately, with proper due diligence and the right support, buying commercial property can be a wise investment.
Commercial Leasing
Leasing out commercial property can be a great way to generate passive income. However, it is important to ensure you’re attracting the right tenants and that the lease agreement meets your needs as a landlord. Before leasing out the property, it’s important to conduct a thorough inspection and make any necessary repairs or upgrades. You’ll also want to consider factors such as rental rates, zoning restrictions, and tenant requirements.
Working with a real estate agent or property management company can help you find the right tenants and navigate the leasing process. With proper management and attention to detail, leasing out commercial property can be a profitable and a low-risk investment. Our team can assist you in drafting a commercial lease agreement suitable to your needs.
Here at PD Law, we tailor our commercial leases to align with your interests. We consider all the relevant factors to the lease such as rent and outgoings, rent review, maintenance & repair, assignment & subletting, lessor’s rights and obligations, risk, default and termination, expiry of the term, damage and destruction and any general considerations such as notices, obligations of the parties and statutory rights.
Our commercial team can assist you with any of your commercial property requirements you may have, contact our team today.
Our Commercial & Business Blogs and Podcasts
Running a business these days is challenging enough without being let down by the fine print on your important forms such as invoices. The terms and conditions a business includes on documents such as invoices and quotes with detail on such important things as delivery terms, returns and refunds, payments, warranties, and limitation of liability… Read More »5 Reasons Why Terms and Conditions For Businesses are Critical and More than Just Boring Fine Print
There are few more frustrating experiences for a consumer than a problem arising with a product or service they’ve spent their hard-earned money purchasing. From malfunctioning electronics to holiday experiences that don’t live up to the advertising, our first reaction is to seek some type of redress to help make things right. In Australia, the… Read More »So You Have Issues With Goods or Services You’ve Purchased? What Rights Do You Have?
Dealing with debt can be incredibly challenging and stressful. However, by implementing effective strategies, you can navigate the process of debt recovery with confidence. In this article, we will explore various strategies that can help you successfully recover your debts and regain control of your financial situation. Understanding the Basics of Debt Recovery First and… Read More »Strategies for Successful Debt Recovery
The Retail Shop Leases Act 1994 (‘the Act’) was enacted in Queensland to protect the interests of small retail business owners. The Act aims to provide transparency and fairness in commercial leasing transactions. Lessors (landlords) and lessees (tenants) must ensure they understand the Act to ensure they’re complying with their obligations. This article outlines key… Read More »Understanding the Complexities of the Retail Shop Leases Act 1994
Once a buyer has made the decision to commit to the purchase of a commercial property there are a number of important steps to take during the settlement and post-settlement phases. Settlement of commercial property generally takes longer than the typical 30-day settlement period for residential properties because of there are considerably more issues involved… Read More »So You’ve Purchased Your First Commercial Investment – What Now?
This article follows on from our recent post providing a checklist of essential things to do when buying a commercial property, this time dealing with the important issues of financing, risk and GST implications. Commercial property can be a lucrative investment but it’s important to do the necessary groundwork before the purchase to reduce your… Read More »Essential Checklist for Buying Commercial Property – Continued
For many people buying a small business is their most viable path to a desired life working for themselves, compared with the riskier proposition of starting a business from scratch. In this article, we’ll outline some of the advantages and disadvantages of buying a small business, the benefits of various entities used to purchase the… Read More »What are the Key Considerations When it Comes to Buying a Small Business
Investing in commercial property can be a lucrative decision provided the asset is well located and the right steps are taken in the lead-up to the purchase. From doing due diligence on the property’s viability as a commercial premises to reviewing the lease with the tenant and understanding the tax implications of the purchase given… Read More »Essential Checklist for Buying Commercial Property
In this podcast, PD Law‘s Commercial Lawyer, Shelley Foot, talks about what you need to know about retail shop leases. Transcript Dan: Welcome to this edition of the PD Law podcast, where we’re talking commercial leases with PD Lawyer, Shelley Foot. Shelley, when it comes to drafting leases, one key facet of a course is… Read More »What you need to Know about Retail Shop Leases
I’ve set up a company to own and run my business, and my partner and I will be directors. Are your personal assets safe? Just a yes or no answer, please. How about yes AND no? The logic is that the company is the entity that opens accounts, signs leases, does deals, performs services… Read More »Setting up a Company
The old work van had been used in the business for years, as had the office manager, who’d recently retired after a 9-year stint running the place for you. The handover to her replacement looked ok from where you stood. The new manager proved competent and, after 3 months appeared to have things under control,… Read More »Minimising Risk – Who owns what?
Claiming on your Insurance Mentioning how devastating TC Debbie was is wasting your time, but getting motivated now to re-start is not. Apart from the tangible benefits of getting an insurance claim processed, it’s just good to be pro-active: feeling like the wheels are starting to turn again is the polar opposite of the soul… Read More »Getting the back yard in order (literally)
“It just crawled into that bloody hole in my glove!” Last weekend I had the great pleasure of harvesting and extracting honey the traditional way from my parents’ bee hive: white overalls, the funny veil, bee smoker, the whole show. And later at their home, separating the honey using this old extractor (really old –… Read More »The paradox of innovation
$50? $100 maybe? A light meal at a casual restaurant? A few rounds with friends? A tank of fuel? Now consider that number in the context of say a $500,000 house purchase. On anyone’s scale, it’s a tiny proportion. And yet that’s all it takes to cloud consumer judgment when it comes to choosing legal… Read More »Apples with Apples…When price point kills service!
It’s a trite comment to say Apple has got it right. A cursory Google (or perhaps Safari?) search will reveal the message behind the Apple brand, and how it is supported with an almost religious zeal by its followers, and its team. No we don’t think we’re Apple, or Google, or Coke, or the North… Read More »We’re lawyers! What do we know about branding?
I’LL CUT MY OWN DEAL THANKS Keeping the lawyers out, and other good ideas. ‘Just keep it simple and to the point – the last thing I want to do is scare them off.’ Everyone, and I do mean everyone, leads with those words when they’re providing instructions. It’s understandable. Apart from obvious reasons like… Read More »DIY Lawyer
Business Mobility, Knowledge Workers and Choice 20 years ago our reception area was frequently short on chairs. A combination of limited technology, and traditional expectations of lawyer / client relationships meant that often, business was conducted face-to-face. Today, the business of law is vastly different, and for good reason. First, people don’t have time to… Read More »THERE’S NOWHERE TO SIT!
“I went into business with your spouse, not you!” You’ve been in business with your good friend and close ally Mark for almost a decade, building a strong business together. You’ve survived the GFC, massive competition, and a couple of bad business decisions you’d rather forget. But you’ve both come through, and your business is… Read More »Business Wills – managing the silent partner !
Like many husbands / dads, I think I do my fair share of work around the house. But it’s during weeks like this one – my wife away at a conference, two of my three children at home with exotic / challenging stomach bugs – where I realise the real work is at home! Anyway,… Read More »Embracing remote working in a tech savvy office – A Story of Flexible Working