Commercial Properties Selling or Leasing

For any Commercial Property Owners who are planning to sell or sublease their Commercial Properties Selling or Leasing, it is essential to ensure that you remember to comply with the requirements of the Building Energy Efficiency Disclosure Act, as the penalties for non-compliance can contain fines of up to $180,000.00.

Since July 1, 2017, owners must disclose the energy efficiency of more commercial buildings before listing them for sale, lease, or sublease.

Under the Commercial Building Disclosure (CBD) Program, most sellers and lessors of office space exceeding 1000m2 must now obtain a Building Energy Efficiency Certificate (BEEC). Previously, only buildings measuring 1000m2 or more fell under this mandatory disclosure requirement. Additionally, BEECs must now be publicly accessible on the Building Energy Efficiency Register.

This change stems from section 12 of the Building Energy Efficiency Disclosure Act 2010 (Cth) (the BEED Act), which outlines the procedure for requesting a BEEC. Owners and lessors must provide potential buyers or lessors with a current, valid BEEC free of charge as early as possible during the transaction process or upon request.

There are some exemptions, for instance, short-term leases of less than 12 months, Strata-Titled buildings, or new buildings, but generally, for Commercial Properties Selling or Leasing as Office Buildings, the vendor or landlord needs to obtain a Building Energy Efficiency Certificate before marketing the property for lease or sale.

You must obtain the certificates from an accredited assessor under the Commercial Building Disclosure Programme.

Applying for the BEEC

The Commonwealth Department of Industry, Innovation and Science issues BEECs. Only accredited CBD assessors can apply for them on behalf of building owners or lessors. The Australian Government maintains a register of CBD assessors certified under the Act. Penalties are in place for failing to comply with obligations under the BEED Act.

A BEEC consists of two parts:

1. National Australian Built Environment Rating System (NABERS) and 
2. Tenancy Lighting Assessment (TLA). 

Once a NABERS star rating and TLA are obtained, the CBD Accredited Assessor can apply for a BEEC on your behalf. The NABERS star rating must be used in all advertising materials for building or space sale, lease, or sublease.

Owners and lessors are not obligated to maintain a valid BEEC continuously. However, the BEEC information can cover a substantial period, such as annual electricity bills and after-hours air conditioning logs.

You can check if your building is affected by the CBD Program here. Information on exceptions and exemptions is also available here.

Contact us today for assistance obtaining a BEEC for your commercial property or any queries about the CBD Program and its implications.

Commercial Property for Sale

We have many commercial properties for sale in Brisbane, the Gold Coast, and the Sunshine Coast at any time. Within these areas, we offer various commercial properties for sale, including office spaces, warehouses, industrial complexes, shopfronts, and more. Our listings include small premises and large commercial spaces spanning several thousand square metres, some offering prime redevelopment opportunities in highly favourable locations.

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Commercial Property Available for Lease

No matter your business requirements, we likely have the perfect commercial property for lease in Caloundra. With decades of experience in real estate transactions in the area, we’ve handled numerous commercial property spaces available for lease. Presently, we offer dozens of commercial properties for lease in sought-after areas like Brisbane, Gold Coast, and Sunshine Coast. Our range of commercial properties for lease closely mirrors those available for sale. If you have specific requirements and still need to meet them, contact our team, and we’ll find something suitable for you.

Why Choose Us for Commercial Property Sales and Leasing?

• We offer listings for thousands of commercial real estate properties for sale or lease. 
• Our clients trust us for retail, industrial, and commercial properties. 
• With nearly 80 cumulative years of experience, the Aylward Game Solicitors team is here to ensure you secure the best deal available for sales and leasing.

COMMERCIAL REAL ESTATE AVAILABLE ACROSS  Brisbane, Gold Coast, and Sunshine Coast

Aylward Game Solicitors boasts an extensive portfolio of commercial real estate properties across Brisbane, Gold Coast, and Sunshine Coast, catering to various budgets. Since 1998, we’ve facilitated successful client transactions and offer buying, selling, and leasing services.

Our dedicated commercial property sales team works tirelessly to achieve your desired outcomes, whether a sale or leasing agreement. Experts at Aylward Game Solicitors are available to assist you today with retail, industrial, or commercial properties for sale.

To discuss commercial real estate opportunities or leasing agreements, contact your local Aylward Game Solicitors. Alternatively, explore our current listings on our Real Estate page.

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Commercial property and the ATO: 

• TAX & Purchasing Commercial Property

When acquiring a commercial property, such as a shop, factory, or office, it’s crucial to maintain records from the start.

If you use the property for business purposes, it’s subject to capital gains tax. Record the acquisition date and costs to calculate your capital gain or loss upon selling.

• Deductions for income taxes

For tax deductions, expenses associated with owning the property, such as loan interest and maintenance costs, can be claimed if the property is used for business or rental purposes. Keep detailed records to maximize eligible deductions.

• GST

Regarding GST, upon purchasing commercial premises, you may qualify to claim a credit for the GST included in the purchase price. Additionally, GST on other related expenses, like solicitors’ fees and ongoing running expenses, may be claimable.

However, you cannot claim GST credits if:

– The seller used the margin scheme to calculate the GST.

– The seller is not registered for GST.

– The property is purchased as a GST-free supply.

– You’re not registered for GST.

Source: Australian Taxation Office

Considerations for Buying or Leasing Commercial Property

If you’re considering purchasing or leasing commercial property for your business, there are several key factors to consider:

• Price: Naturally, price is crucial for all parties involved. Sellers seek fair value, buyers want value for their money, and lessees aim for favourable terms.

• Transport and Parking: Accessibility for employees, clients, or potential tenants is vital. Additionally, foot traffic may be significant for certain businesses.

• Lease Term: The lease length and early termination or renewal terms are critical for lessees and landlords. 

• Contractual Terms: All parties must clearly understand the rights and responsibilities of the sale or lease contract.

• Utilities: Adequate provision of electricity, gas, water, internet, and other necessities is necessary to meet the needs of all parties.

• Size and Space: Commercial properties vary in size and layout. Buyers, sellers, and tenants must ensure the property meets their spatial requirements.

Our Range of Commercial Real Estate is Thousands of Strong

At Aylward Game Solicitors, we acknowledge the crucial significance of the correct location in commercial properties. That’s why our dedicated commercial property sales team constantly explores innovative ways to enhance our portfolio for you.

You deserve expert assistance in commercial property sales, and that’s where we excel.

Our seasoned agents have been assisting clients with commercial real estate for sale in BRISBANE, GOLD COAST & SUNSHINE COAST,  and operate professionally to find commercial properties that meet your needs.

For commercial property sales, reach out to Aylward Game Solicitors today.

Get Ahead with Expert Legal Guidance

Trust Aylward Game Solicitors to Navigate Your Legal Challenges

Schedule Your Appointment Now

Call Us (1800) 217 217

FAQs

What amount constitutes a standard commercial leasing deposit?

The amount of a standard commercial leasing deposit can vary depending on the lease agreement.

Typically, standard commercial deposits comprise two months of net rental + outgoings + VAT. This deposit covers your rental obligation for the initial months of your tenancy. Once this deposit has been used, you must usually fulfil your rental obligation.

When do you need an ATO’ Clearance Certificate’?

[Note: Applicable until 30/6/17] Australian residents must furnish an Australian Tax Office (ATO) ‘Clearance Certificate’ if a property’s value exceeds £2,000,000 (excluding VAT). Failure to provide this will withhold 10% of the purchase price at the property settlement. Forms can be submitted to the ATO via their website and remain valid for 12 months.

[For contracts for sale entered after July 1, 2017] Australian residents must furnish an Australian Tax Office (ATO) ‘Clearance Certificate’ if a property’s value exceeds £750,000 (excluding VAT). Failure to provide this will withhold 12.5% of the purchase price at the property settlement. Forms can be submitted to the ATO via their website and remain valid for 12 months. See more at: FRCGW.

WHEN DO I HAVE TO PAY GST?

Commercial property sales typically incur GST, although there are exceptions. Seek advice from your solicitor and accountant to assess your unique circumstances.