Commercial acquisition advisory

We act for the buyer.
Nobody else.

Independent advisory for people buying commercial property in Queensland and Victoria. We test the numbers, read the leases, price the asset properly and negotiate from evidence. We work for you.

Built for buyers who will be asked to sign something.

A commercial purchase is a set of contracts you inherit: leases, body corporate schemes, outgoings, arrears, options. The price on the listing is the vendor's opening position. Our job is to find out what the asset is actually worth, and what you are actually taking on.

Owner-occupiers Businesses buying premises to trade from, who need the building and the existing tenancies to fit the way they intend to use it.
Investors Private buyers and family groups acquiring income-producing assets: offices, medical suites, retail, industrial, mixed use.
SMSF trustees Funds acquiring business real property, where the lease terms, valuation and settlement structure have to satisfy the fund's rules as well as the deal.
Interstate and overseas buyers Buyers who cannot walk the site every week and need a local adviser reading the documents and running the negotiation on the ground.

The listing is one version of the story.

These are the questions we put to every commercial asset before we let a client make an offer. Each one has moved a purchase price by six figures in work we have done.

What the listing says	What we verify
"Multi-tenanted, fully leased."	Who is the legal obligor? A single head tenant sub-letting to four occupants is one covenant, not four. If the head lease has expired into monthly holdover, the whole income line is terminable on notice.
"Net income of $X after outgoings."	Whether the outgoings figure is the landlord's real cost or a tenant recharge. The two are often materially different, and the difference goes straight to the capitalised value.
"Strata title, body corporate maintained."	Whether the scheme is a Building Format Plan or a Standard Format Plan. Under a Standard Format Plan the lot owner, not the body corporate, carries the building. That changes insurance, maintenance and your exposure.
"Long-standing tenant, excellent history."	The rent ledger. Arrears that clear each June are still arrears. We read twelve to twenty-four months of actual receipts, not the summary.
"Priced at $X."	Whether the number survives arithmetic. Passing rent, verified outgoings, market yield for the asset class and location, and a registered valuation where the gap warrants it. We give you a defensible range and a preferred figure.
"Vacant possession available."	What the structure would need to be at settlement for the property to work for you: direct leases, tenant limited to particular floors, term and option positions. We build those into the offer rather than hoping for them afterwards.

How an engagement runs.

Most engagements run six to twelve weeks from brief to contract. Complex tenancies or valuation disputes take longer, and we will tell you early if that is where a deal is heading.

Brief

What you are buying for, how you will use or hold it, funding structure, timeframe, and the things you will not compromise on. We put this in writing so every later decision can be tested against it.
Assess

If you already have a target, we do an initial assessment of the information memorandum, leases and body corporate records and tell you whether it deserves a full investigation. If you do not, we source off-market and on-market options against the brief.
Investigate

Full due diligence: lease covenants and sub-tenancies, rent ledgers, outgoings reconciliation, title and plan format, body corporate minutes and sinking fund, planning overlays and any conditions on use.
Price

A written valuation report with a supportable range and a preferred figure, built from verified income and comparable evidence. Where the vendor's expectation is a long way from the evidence, we arrange a registered valuation before you commit.
Negotiate

We run the negotiation with the selling agent and the vendor. Price, conditions, and the structural terms the investigation showed you need. Your reasons for buying stay with us; the argument to the vendor is made on the numbers.
Contract to settlement

We work alongside your solicitor and financier through conditions, valuation, lease assignments or new leases, and settlement. You are not handed off once the price is agreed.

What you receive.

One acquisition report, versioned as the investigation develops, that you can hand to your solicitor, your financier, your accountant and your co-owners. Plain language, short sentences, action points numbered.

Executive summary and recommendation
Tenancy schedule with legal obligor identified for each occupancy
Lease-by-lease review: term, options, holdover, assignment, make-good
Rent ledger analysis and arrears history
Outgoings reconciliation, landlord level versus recharge
Title, plan format and body corporate position
Income and yield analysis with comparable evidence
Valuation range and preferred purchase price
Risk register with mitigation for each item
Negotiation strategy and offer structure
Conditions to be built into the contract
Settlement checklist

Two fees. Both in writing before we start.

An engagement fee covers the investigation whether or not you buy. A success fee is payable only when you settle. If the investigation tells you to walk away, that is the report doing its job, and you have paid for the investigation alone.

Payable on engagement

Fixed engagement fee Quoted per engagement, based on the scale and complexity of the asset. Confirmed in the engagement letter before any work begins.

Covers the brief, sourcing or initial assessment, full due diligence and the written acquisition report.

Payable at settlement

2% to 2.5% of the purchase price. Your rate is fixed in the engagement letter.

Covers pricing, negotiation, offer structuring and the work through to settlement. Not payable if the purchase does not complete.

Fees are exclusive of GST. Third-party costs such as a registered valuation, searches or specialist reports are quoted separately and only incurred with your approval.