Capital improvements to commercial property

Discussion in 'Commercial Property' started by blue89, 18th Feb, 2022.

Join Australia's most dynamic and respected property investment community
  1. blue89

    blue89 Member

    Joined:
    15th Nov, 2017
    Posts:
    13
    Location:
    Melb
    Hi

    I’m looking to take a lease out on a commercial property. It’s essentially currently a shed with some free space out the front. Basically the location is perfect but the property itself isn’t and commercial property of the size in after in the area is very very difficult to come by. Ideally I’d love to be able to erect a building in front of the shed that connects to the shed directly and take up about 80% of the land in front of it.

    if such a thing was to happen, who would be responsible for building this, the land lord or me the tenant?

    Is there anything I should know about such a plan?
     
    blue89, 18th Feb, 2022
    #1
  2. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

    Joined:
    18th Jun, 2015
    Posts:
    41,927
    Location:
    Australia wide

    Who would own it? The owner would be largely responsible.
    Usually a building attaches to the land so becomes part of the land so there are a shed load of legal issues to consider.
     
    Terry_w, 18th Feb, 2022
    #2
  3. Scott No Mates

    Scott No Mates Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    27,225
    Location:
    Sydney or NSW or Australia
    It all depends upon what you negotiate (& whether it's allowable under the planning laws).

    Does the owner want to build? Maybe they'd sell to you?
     
    Scott No Mates, 18th Feb, 2022
    #3
  4. Beano

    Beano Well-Known Member

    Joined:
    7th Apr, 2016
    Posts:
    3,357
    Location:
    Brisbane
    Lessee's interest ?
    You are the leaseholder?
     
    Beano, 19th Feb, 2022
    #4
  5. Cousinit

    Cousinit Well-Known Member

    Joined:
    6th Aug, 2017
    Posts:
    1,031
    Location:
    Victoria
    It would be interesting to know what the OP did.
     
    Cousinit, 14th Apr, 2022
    #5
Build Passive Income WITHOUT Buyers Agents!

Build Passive Income WITHOUT Dropping $15K On Buyers Agents Each Time! Helping People Achieve PASSIVE INCOME Using Our Unique Data-Driven System, So You Can Confidently Buy Top 5% Growth & Cashflow Property, Anywhere In Australia