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Understanding the Purchase of Commercial Property
Buying commercial property differs materially from residential conveyancing. The transaction may involve complex leasing arrangements, GST considerations, land tax exposure and compliance with planning controls.
Contracts for the sale of land are governed by the Conveyancing Act 1919 (NSW). Unlike residential purchases, there is generally no cooling off period unless specifically negotiated.
Due diligence is critical. Buyers must review:
- Existing leases and tenant obligations
- Outgoings and adjustment provisions
- Zoning and planning compliance
- Easements and restrictions on title
- Environmental issues
- GST treatment and going concern provisions
Commercial property purchases are often structured through companies or trusts, requiring coordination with asset protection and taxation advice.
When You Need a Commercial Property Lawyer
Legal advice is important when:
- You are reviewing a contract for sale of commercial property
- The property is subject to existing leases
- The purchase involves a retail premises
- There are development or zoning considerations
- GST is payable or the sale is a going concern
- The transaction is structured through a company or trust
- Significant deposit sums are at risk
Early contract review reduces exposure and preserves negotiation leverage.
Our Legal Services in Commercial Property Purchases
We assist buyers across commercial conveyancing matters, including:
- Contract review and advice
- Due diligence investigations
- Lease review and assignment advice
- GST and going concern review
- Special condition drafting
- Settlement and completion management
- Dispute advice
We provide clear advice on risk allocation and compliance requirements.
Our Approach to Buying Commercial Property
We begin with a detailed review of the contract and title. Particular attention is given to special conditions, deposit provisions and default clauses.
Where the property is tenanted, we assess lease terms, rental income security and compliance with the Retail Leases Act 1994 (NSW) where applicable.
Due diligence enquiries are coordinated prior to exchange wherever possible. If amendments are required, we negotiate variations that reduce financial exposure.
Settlement is managed with structured oversight of adjustments, discharge of mortgages and registration requirements.
Our approach is commercially focused and risk-aware.
Why Choose Maguire & McInerney
Maguire & McInerney advises on commercial property acquisitions involving leasing structures, corporate purchasers and significant financial commitments. Our work is grounded in detailed knowledge of the Conveyancing Act 1919 (NSW), the Retail Leases Act 1994 (NSW) and settlement procedure. We provide clear advice on contractual risk and transaction structure, supported by transparent fee arrangements.
Before signing a contract to purchase commercial property, obtain legal advice to ensure appropriate due diligence is undertaken. Contact our team to discuss your proposed acquisition.
Steps To Get Started
FAQs
While not legally mandatory, legal advice ensures proper contract review, risk assessment and compliance with statutory requirements.
Generally no. Cooling off rights typically apply to residential property only unless otherwise negotiated.
Costs may include stamp duty, legal fees, registration fees, GST where applicable and due diligence expenses.
Your rights depend on the lease terms. Proper pre-purchase lease review assists in assessing enforcement options.
You should review title, zoning, existing leases, outgoings, environmental issues and GST treatment. Comprehensive due diligence is critical before exchange.
What Our Clients Say
