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Property Information: :

About 80% of business sales require the transfer of a property lease. Often this is an arduous and time-consuming exercise.   
 
We aim to provide all the documents to the buyer as soon as they enquire so that we can qualify them in or out as quickly and efficiently as possible.  
 
Suppose you propose selling a business whose trading address is critical to ongoing operations like a cafe, workshop or retail operation. In this scenario, the buyer will want lease security and clarity and will want to know all the facts upfront.  
 
If the existing lease has a short lease term (less than two years) with no option to extend, why would a buyer pay a premium for your business? 
 
Listed below are the minimum documents required to enable a seller of a business to reach an agreement on a sale.  
 
If your business has multiple sites, then we need all the documents per location. 
 
Core lease documents required:  
 
  • Lease Disclosure Statement 
     
  • Current executed lease(s)
      
  • Most recent monthly rental invoice  
     
  • Crown Lease Search if non-body corporate 
     
  • Body Corporate Disclosure Statement 
     
  • Floor plans with dimensions and aspect  
     
  • If the property/owner landlord agrees to a new or amended lease, then those terms in a Lease Disclosure Statement 
     
  • Landlord or Managing Agent Lease Application Package 
     
  • Independent property valuation if you are proposing to sell or lease the property 
     
  • If you are the owner and propose to lease or sell, then a contract for sale and or a lease disclosure statement

Example Documents:

Frequently Asked Questions

If the landlord or managing agent opposes the assignment, what can we do legally?

You can ask your solicitor to contact the landlord or managing agent for the reason why assignment of lease is opposed.

If we decide to go to court for a determination about the merits of the lease assignment?

You have the legal right to dispute any decision made by the landlord that you believe is unfair.

If we are the tenant and the lease has expired is the landlord obligated to provide us a new lease?

No, but your landlord is legally required to give you notice if the new lease is not granted. The notice period should be written in your signed lease agreement.

If we have applied for the assignment of the lease how long does the landlord have to decide?

This may vary depending on different landlords.

When does the formal consideration process commence if we request the assignment of the lease?

The formal consideration process will commence once you provided all requested documents to the managing agent or landlord to review.

If there is a make good condition in the lease what does that mean? And if there is no original documentation about the conditions of the premises, what do we do?

Tenant is responsible for keeping the premises in good condition which will be justified in the inspection report prepared by the managing agent.

If there is no original documentation about the conditions of the premises, you should contact the landlord or managing agent for more information.

Why do we need floor plans? And what should be on those floor plans?

Floor plans are important to help interstate buyers understand the dimensions, set up and structure
of the premises.
 
A commercial floor plan should include exterior and interior walls, wall openings such as windows
and doors, circulation and structural elements, fixture locations, and dimensions.