We have extensive experience in the commercial, industrial, and retail property sectors, having advised on numerous acquisitions and sales across Queensland. We offer a range of property services, assisting buyers at the acquisition stage with contract negotiations, helping with due diligence enquiries, and working with clients throughout all stages of the subdivision and development of property.
What is Commercial Property?
A commercial property is any property intended for business purposes, in contrast to residential property that is designed as dwellings. Commercial property can include industrial buildings, vacant land, and retail space.
Acquiring or divesting a commercial property requires serious care and attention. It is particularly important for you to ensure that you purchase the property under the right ownership structure, the price is apportioned between plant and equipment and goodwill (if relevant), and all of the contract’s conditions protect your interests.
Our legal team can help you to successfully execute a commercial property transaction to leverage opportunity and manage risk.
Leasing
Whether you are a lessor/landlord, lessee/tenant a lease may be one of the most financially significant or long term agreements that you or your business will enter into. If you are a tenant it is so important that you go into that agreement with your eyes wide open. Leases can be long and complicated documents. Whether you are a landlord or tenant you should ensure that the lease meets your specific requirements before you sign anything. Something as simple as the tenant’s obligations to reinstate premises at the end of the lease could have major financial consequences if the lease is not properly drafted.
A large part of Harding Richards Lawyers’ commercial practice is leasing. When we act for landlords, we prepare commercial, retail and industrial leases. Landlords with retail shops must comply with significant obligations under the Retail Shop Leases Act (1994) (RSA) or potentially face significant liabilities. Clients are sometimes surprised when we identify a need to comply with the RSA and when we explain the potential risks of failure to comply.
When we act for tenants we explain, in simple to understand language, their obligations under leases. We negotiate and draft lease terms tailored to suit our client’s specific requirements both landlord and tenant.
When we act for tenants we explain, in simple to understand language, their obligations under leases. We negotiate and draft lease terms tailored to suit our client’s specific requirements both landlord and tenant.
Harding Richards Lawyers also has extensive experience in resolving lease disputes. Our knowledge and understanding of landlord and tenant disputes means we reduce the risk of a dispute. Obtaining proper advice and having a well drafted lease is money well spent.
Property Subdivisions and Development
You can achieve considerable capital gains through property subdivision and development. This may involve dividing a property into separate lots of vacant land, or strata development such as commercial units.
The procedure for subdivision and development typically involves preparing a Development Application, lodging the application with the local council, and then waiting for the council’s decision. If the response is unfavourable, you can consider the various appeal processes. Otherwise, you can proceed with the development work under an approved plan while complying with the conditions of the development approval.
Property subdivision can be a risky proposition and you need to do substantial research, including consulting with the local council, town planners and surveyors before you commit. It is also important to seek advice from a legal specialist. For instance, if you are buying a property with a view to subdivision or development, you may be able to include a “subject to development consent” clause in the contract. This type of clause can protect your right to withdraw from the purchase and recover your deposit if you are refused council permission for the development (or the terms of the permission are unacceptable to you).
If you need assistance, contact one of our lawyers at [email protected] or call 07 3391 7511 for expert legal advice.