Commercial Conveyancing Adelaide
At Trevor White Conveyancers, we have acted on South Australian commercial property since 1991. Whether you are buying an office suite, selling a retail tenancy, acquiring an industrial site or settling vacant land for development, commercial conveyancing carries risks a residential contract never raises, from GST and existing leases to due diligence and zoning.
Our team manages the contract, the searches and the settlement so the transaction completes cleanly and you know what you are taking on.
What is commercial conveyancing?
Commercial conveyancing is the legal transfer of commercial property, such as offices, retail premises, industrial sites, warehouses and development land, from one owner to another. It follows the same broad path as a residential transfer, contract, searches, adjustments and settlement, but the contract is usually negotiated rather than standard, and the due diligence is wider. GST treatment, existing tenants, permitted use under the planning code and the condition of the title all have to be resolved before you commit.
Commercial property we act on
We act for buyers, sellers and investors across metropolitan Adelaide and regional South Australia on:
- Office suites and whole commercial buildings
- Retail tenancies and shops
- Industrial premises, warehouses and yards
- Vacant land and development sites
- Investment property sold with tenants in place
- Property transferred as part of a business sale
What makes commercial conveyancing different
Four issues come up in almost every commercial matter, and each of them can change the price you effectively pay.
GST. Commercial property is generally subject to GST, unless the sale qualifies as a going concern. Whether the contract price is inclusive or exclusive needs to be settled before you sign, not at settlement.
Existing leases. If the property is sold with tenants in place, you take on those leases. We review the lease terms, the bonds and guarantees, and the rent and outgoings position so the adjustments at settlement are correct.
Due diligence. Commercial buyers need to confirm permitted use, zoning, access, services and any registered interests before finance is drawn. We run the searches and report on what is registered against the title.
No cooling-off. The two clear business day cooling-off period that protects residential buyers in South Australia does not apply to most commercial purchases. Once you sign, you are committed, which is why the contract review has to happen first.
The commercial conveyancing process
We review or prepare the contract and negotiate the special conditions with the other party's representative. We then run the title and government searches, confirm the GST position with you and your accountant, review any leases in place, and calculate the adjustments for rates, land tax, outgoings and rent.
On the settlement date we coordinate with your bank and the other party through PEXA so title transfers and funds move at the same time. You are told at each stage what has been done and what is outstanding.
“[They] have handled all of my multiple property conveyancing and it has always been professional and seamless. Highly recommended.”
Alison M.
Google reviewReady to get started? Call us on (08) 8227 1105 or request your fixed-fee quote below. We offer competitive fixed-fee pricing for our conveyancing services (conditions apply).