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What do you really need to know before buying commercial property?
Commercial property can look straightforward on the surface, but the risks, opportunities and decision-making process are very different from residential property.
In this episode of Commercial Property Uncovered: Beyond the Contract, Richele Janjatovich of Mecca Finance, Vicki Likoudis of Impacta Commercial Advocates and Nicole Faid of Accord Conveyancing go back to basics and unpack the fundamentals of commercial property.
We discuss the different types of commercial property, zoning and permitted uses, commercial finance, due diligence, contract negotiations and some of the costly mistakes buyers can make when they do not investigate a property properly.
Whether you are a business owner looking for premises, an investor considering your first commercial property, or an experienced buyer looking to sharpen your approach, this episode is packed with practical insights.
In this episode, we cover:
• The different types of commercial property and how they work
• Why medical property has become its own asset class
• How zoning can affect what you can and cannot do with a property
• Mixed-use property and how lenders assess it
• Why industrial property has become so popular
• What owner occupiers should consider before buying
• Why you should not rely solely on information provided by the selling agent
• How lenders look at vacant commercial property
• The importance of building, pest and environmental due diligence
• What to investigate before signing a contract
• Buying at auction and through an EOI campaign
• Negotiating the contract and knowing when to pick your battles
• Why some commercial properties remain vacant for months or even years
• Real examples of costly mistakes that were avoided through early advice
Timestamps
00:00 Introduction to Commercial Property 101
01:24 Understanding commercial property asset classes
02:35 Zoning and permitted uses
04:22 Questions to ask before signing a contract
05:28 Mixed-use property and commercial finance
07:58 Why industrial property has become so popular
10:30 The importance of scarcity
11:39 Buying vacant commercial property
12:40 What owner occupiers should consider
14:14 Who does the selling agent really work for?
15:24 Why consider a commercial buyer's advocate?
16:21 How lenders assess commercial property
17:34 Checking whether your business can operate from the property
18:32 A $6 million transaction that almost went wrong
19:26 Compliance and change of use
20:54 Commercial property fundamentals
23:18 Building and property inspections
26:24 Why due diligence matters
27:54 Due diligence before auctions and EOI campaigns
28:10 Wins and Warnings
28:50 Negotiating the contract
30:34 Securing 100% finance
31:38 Why commercial properties sit vacant
32:37 The most expensive commercial property mistakes
34:19 Episode wrap-up
About Commercial Property Uncovered
Commercial Property Uncovered: Beyond the Contract brings together three professionals who see commercial property from different perspectives: property, contracts and finance.
Hosted by Vicki Likoudis, Richele Janjatovich and Nicole Faid, the podcast is designed to help business owners, investors, buyers and sellers make better commercial property decisions.
We go beyond the contract to uncover what really happens when you buy, sell, lease or finance commercial property.
If you found this episode useful, follow or subscribe to Commercial Property Uncovered: Beyond the Contract and leave us a review or question for a future episode.
The best commercial property decisions are usually made long before settlement.
Commercial Property Uncovered: Beyond the Contract
Hosted by Vicki Likoudis, Richele Janjatovich and Nicole Faid.
🏢 Richele Janjatovich | Finance: [Mecca Finance Group] + LinkedIn
🏢 Vicki Likoudis | Buyer & Tenant Advocacy: [Impacta Commercial Advocates + LinkedIn]
🏢 Nicole Fade | Property Contracts: [Accord Conveyancing + LinkedIn]
📧 Have a commercial property question you'd like us to answer? Send it to [email protected]
Follow us on Instagram: @CommercialPropertyUncovered
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