11 Oct, 2015
If you are thinking about buying or building a commercial property in Perth, there are many factors to consider before you choose to enter the Perth commercial property market.
It is wise to identify areas in Perth that will maintain property value over the long term. The economy is in a continual state of fluctuation; however certain areas will retain commercial property value.
For those interested in a commercial property development, conducting market research is vital to ensure the commercial property will be viable and within reach of its target market.
If you are looking at an investment property, seek out areas that are associated with long term capital growth and high occupancy rate for tenants.
Research suburbs which are well serviced in terms of infrastructure and with accessibility to amenities and your target demographic; this will contribute to the success of your commercial venture.
Choosing a builder in Perth
Your builder will be your partner throughout the building process; choosing the best builder for your commercial building project is vital to its success.
There are many commercial builders in Perth. However not all will be suited to give you the best outcome for the type of property you require. Research your builder carefully, by looking at value for money rather than for the cheapest quote, quality of past work and the type of projects they are experienced in.
Property Value
As the mining boom draws to a close, it has brought with it a move towards more stabilised or lower property prices in Perth.
This translates to more affordable developments for those hoping to buy or to build a commercial property in Perth for the first time in several years.
Self Managed Super Fund (SMSF) & Commercial Property
Many people are choosing to invest in a commercial property through their Self Managed Super Fund (SMSF).
According to the ASIC website, your SMSF could potentially purchase your business premises, allowing you to pay rent directly to your SMSF at the market rate.
There are however many factors to take in consideration, and it is prudent to discuss your options with a trusted financial adviser. Anyone who gives advice on an SMSF must have an Australian Financial Services Licence (AFSL). This information on the ASIC website, where the Professional Registers will tell you if the company or person holds an AFSL.
Building in Perth requires the right research and preparation to ensure you build the best commercial property in the right location, which meets your budget and is built to the highest standard.
To discuss your commercial property project call Adam at RapidTilt on 08 9248 5272. The team at RapidTilt have many years’ experience in delivering commercial buildings in Perth, that are both high quality and within budget.
