Tenanted commercial property, entry conditions?

Discussion in 'Commercial Property' started by Bma, 6th Mar, 2022.

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  1. Bma

    Bma Well-Known Member

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    Hi all,

    How do you find out the entry conditions when purchasing a tenanted commercial property? There is no entry condition report like residential property.

    Thank you!
     
    Bma, 6th Mar, 2022
    #1
  2. qak

    qak Well-Known Member

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    You need to read the lease to see what the expectations are on vacating. Tenant may own the fitout, it may need to be removed by the tenant, or it may revert or be sold to the LL.
     
    qak, 6th Mar, 2022
    #2
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  3. Scott No Mates

    Scott No Mates Well-Known Member

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    The agent (if they are any good) should have completed a photographic dilapidation report showing all areas including notes of any damage.

    The lease should be specific in the expectations (repaint within the last year of lease, removal of all fixtures & fittings, retubing of lights, copy of latest service documentation for airconditioning/fire services, pest treatment/clearing of grease trap/exhaust ductwork (if it was a food premises) etc
     
    Scott No Mates, 6th Mar, 2022
    #3
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  4. Bma

    Bma Well-Known Member

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    Thank you guys!
     
    Bma, 7th Mar, 2022
    #4
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