Law online. anywhere. anytime
Facebook-f Instagram Linkedin-in
Contact

Virtual Legal

Buying a Commercial
Property

Get in touch
Law online. anywhere. anytime​

Buying a Commercial Property

Are you thinking it may be time to purchase your own office space? Have you outgrown your commercial space and it’s time to find somewhere bigger? Is your lease coming to an end, and you’ve decided it’s time to branch out and into your own commercial property? If any of these situations sound familiar – or even if the don’t – it is crucial to ensure that understand any Contract that you are entering into before you sign. You want to start off on the right foot, and our commercial property team can assist from beginning to end.

From contract negotations to lease reviews to extensive legal due diligence, we understand that a commercial property purchase has many important features and we can keep an eye out for the tricky parts, so you don’t have too. We make the process simple, hassle-free and cost effective, so you can focus on the important things – like new chairs for your new office or that fancy coffee machine you’ve been wanting to include in the kitchen. And don’t forget all the extra time you’ll have, instead of fretting over countless legal pages without any guidance.

We do not offer a ‘cookie cutter’ experience, as we know that every commercial transaction is different – whether it be due to size, location, usage or one of thousands of other factors that sets your property apart. We therefore treat every matter the way it deserves – as a unique transaction that is specific to you and your needs. Give us a call today to learn more.

Legal help delivered flexibly to make life easier for you That's Virtual Legal​

The types of things we may do for you​

Contract review and negotiations ​

Reviewing leases and providing summary ​

Due diligence, searches and negotiation​

Assisting with Finance & Body Corporate Report​

Termination & Surrender of Leases​

Dealing with financial institutions​

Preparing for Settlement​

Attending Settlement​

Your time is valuable, so let us do the hard work.

Chat about buying commercial property today.

Get in touch

Client Testimonials

M Condi

Very happy with the professionalism of Virtual Legal. I did not have to worry about a thing. Thank you

S Lipschitz

They were empathetic and when stressors were about, they were able to calmly sort through the issues. I would highly recommend Virtual Legal and if the need arises again, I would be happy to use them again

Koffee’n’Chocolate

Virtual Legal, gives you peace of mind in the business world, efficiency, flexibility and understanding of my business is paramount for me. Thank you, Katie and Chris.

Ian

Luff TV

The team at Virtual legal have helped me both personally with property settlements and also in business, with many different legal requirements. Their franchising knowledge as well as corporate and general law is fantastic. Better still their friendly professional service makes using a law firm pleasurable. Well done Virtual Legal!

D Stakelum

River City Bookkeeping

“I cannot recommend Virtual Legal Highly enough, Chris is fantastic and went above and beyond what I had requested. I will be using Virtual Legal for all of my future work. Thanks! Donna, River City Bookkeeping”

S Cooper

Virtual legal where a delight to deal with precise and professional!

PRICING & Packages

Choose a Package to Suit You​

This may be your first time but it’s not ours.
We’ll take care of it so you can focus on your new Property.

+ GST + outlays

from

$3,497

Purchase of a Commercial Property
  • Review Contract of Sale and Draft Conditions
  • Provide Advice on Contract
  • Critical Dates i.e. Finance, Building & Pest, etc
  • Extensive Legal Due Diligence enquiries and searches
  • Work with Financier to provide documentation, then book in Settlement
  • Adjust for Rates, Water, Land Tax, Levies, etc.
  • Attend Settlement & Pay out Agent and Authorities
  • Forward final letter and settlement docs to you.
Claim Free Strategy Call

+ GST + outlays

from

$2,497

Purchase of a Commercial Unit
  • Review Contract of Sale and Draft Conditions
  • Provide Advice on Contract
  • Critical Dates i.e. Finance, Building & Pest, etc
  • Extensive Legal Due Diligence enquiries and searches
  • Work with Financier to provide documentation, then book in Settlement
  • Adjust for Rates, Water, Land Tax, Levies, etc.
  • Attend Settlement & Pay out Agent and Authorities
  • Forward final letter and settlement docs to you
Claim Free Strategy Call

Frequently Asked Questions

When it comes to commercial property purchases, there are a few searches that we strongly recommend you do, including a title search and plan image (to check you are buying the right property); contaminated land search; main roads search (to check your property isn’t going to be taken due to expanding roads anytime soon); building notices search; certificate of classification search (to ensure the property is being used in line with its classification) and land tax. Then there is the rates and water searches, body corporate searches (if the property is located in a body corporate) and the cost of these will depend mostly on the area you’re purchasing in the charges differ from Council to Council. So, on average, searches cost around the $1,000 mark.
Ring us! If you have received a Contract that is in draft form, we strongly suggest that you give your solicitor a call and let them review it before you sign. Ensuring that you have a legal professional take a look at the Contract can ensure that any issues or potential concerns are raised at the start, and amendments can be proposed as soon as possible. Having your commercial Contract reviewed saves you both time and money in the short and long term, and, stops many disputes before they even arise – it also ensures that your interests are protected from the beginning, which is one of our main goals.
We’ll need a copy of your identification i.e. Driver’s License and Passport if possible, plus your address, email and phone number, to set up our electronic file. Once the draft Contract is provided to us, we’ll review it and also do some preliminary searches to see what may need to go into the Contract and that you are buying the correct property!
No, we can manage the entire transaction working with you via telephone, email and teleconference/webcam if you would like to have a face-to-face meeting. This saves you time, and also saves money not having to pay for inner city parking. You can just post any original documents to Level 54, 111 Eagle Street, Brisbane QLD 4000, email us at admin@virtuallegal.com.au or call on 1300 550 150.
Absolutely. Virtual Legal take great pride in the extensive legal due diligence process that we offer our commercial property clients, making certain that they are comfortable and informed regarding the commercial property they are purchasing. We offer an extensive Legal Due Diligence Report which covers everything from flood search reviews to tenant details to building records searches and much more, while offering comprehensive search results across every point that is specific to your transaction.
We do – we offer lease reviews for every commercial transaction that we undertake, to ensure that you are entering into a proper lease as a Landlord – whether it be your first or 50th time. From ensuring that the Lease is in the right form, to checking the terms offer you protection, to advising whether the lease should be registered, we offer an extensive lease review process to every client we assist.
This is a tricky question – it can depend on so many factors! A standard commercial transaction usually lasts around 60 days, however there can be multiple parties involved, such as financiers, which can affect settlement timeframes. We will always try and get a matter settled for you as soon as possible though.

Still not sure which way to go?

Why not just get in touch and we’ll talk through it.

Get in touch