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buying commercial property 4 a beginner. help pls

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1	hi experts. I'm looking at buying a stand alone property. its a do up brick workshop in an old south island town. what fish hooks should i look out for? ive bought a couple of houses in my life but this will be my first commercial building. beno - 2021-09-13 18:13:00
2	I’m no expert but I’ve watched property developers with interest over 50 years.One thing the clever/ successful ones all do have is a tenant. One they have hand picked that they then work with on the redevelopment to suit their leasee. I’ve seen a lot of empty buildings around old South Island towns. The earthquake strengthening required and the costs involved to bring them up to compliance would make your eyes bleed. That’s two things I think are very important... Good luck, do your due diligence and keep us updated. ???????????? lovelurking - 2021-09-13 18:47:00
3	Brick + seismic strengthening = $$$$$ and tears. Ask if they know what its seismic rating is. Many won't know but given the last 10 years some will. Or you can check here if the local council has issued a notice https://epbr.building.govt.nz/ and the timeframe to fix. It varies by rating and region. hers.nz - 2021-09-13 18:55:00

Post

hi experts.
I'm looking at buying a stand alone property. its a do up brick workshop in an old south island town. what fish hooks should i look out for? ive bought a couple of houses in my life but this will be my first commercial building.

beno - 2021-09-13 18:13:00

I’m no expert but I’ve watched property developers with interest over 50 years.One thing the clever/ successful ones all do have is a tenant. One they have hand picked that they then work with on the redevelopment to suit their leasee.
I’ve seen a lot of empty buildings around old South Island towns. The earthquake strengthening required and the costs involved to bring them up to compliance would make your eyes bleed.
That’s two things I think are very important...
Good luck, do your due diligence and keep us updated. ????????????

lovelurking - 2021-09-13 18:47:00

Brick + seismic strengthening = $$$$$ and tears.
Ask if they know what its seismic rating is. Many won't know but given the last 10 years some will. Or you can check here if the local council has issued a notice https://epbr.building.govt.nz/ and the timeframe to fix. It varies by rating and region.

buying commercial property 4 a beginner. help pls

beno - 2021-09-13 18:13:00

lovelurking - 2021-09-13 18:47:00

hers.nz - 2021-09-13 18:55:00