Friday, 30 January 2015
Perth isn't a stranger to commercial property developments involving mining. Back in the days of the mining boom, the city could only provide so much office space, resulting in record-high rental rates. Today, the high vacancy rate can be offset by investments in the region, with plenty of Perth commercial property units up for grabs. To obtain commercial property Down Under, investors must undergo careful scrutiny by the government. They must secure a permit from the Foreign Investment Review Board for commercial real estate exceeding $5 million. Although permits are not hard to come by provided all requirements are fulfilled, it's not unusual to encounter snags along the way.
Thursday, 29 January 2015
Selling 101: Avoid sentimentality When it comes to selling commercial property, one important thing an investor should remember is to avoid getting too attached to the property. Sentimentality can be a powerful disincentive to sell—it may even cause an owner to put a price on a property that is higher than its current value. Too strong an emotional attachment to a commercial property investment in Perth that’s supposed to be generating income is never beneficial; if it’s no longer profitable, it may be time to consider selling the property. Working with a professional Commercial property selling is a very complex and lengthy process—even more so for someone who doesn’t know his way around it. The paperwork and the labour involved can be extremely tedious to fulfil. Marketing the property to attract buyers is also another consideration.
Friday, 23 January 2015
More retail space is expected to be up for grabs in malls around Western Australia. Shopping centres all over the Perth area have set their expansions into overdrive since the state government voted to remove the floor cap in 2010. Under the former law, shopping centres are prohibited from expanding beyond 80,000 m2. This has made Lakeside Joondalup, at 71,368 m2, one of the largest in WA but one of the smallest in the country.
Wednesday, 21 January 2015
Now that you’ve decided to go into business, choosing a commercial property investment in Perth is your next challenge. The Australian Government’s website lists some factors to consider when planning your business venture’s location.