DIY Legal work. Is it a good idea?

‘Doing it yourself’ has become possible in many fields by virtue of the internet. The internet has become humanity’s repository of knowledge and resources. It is now possible to download the knowledge, plans and tips to do anything from building treehouses to planning your own funeral. Even legal work is now in the domain of …

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Money is Cheap

Put simply, money is cheap. Clearpoint is seeing a high level of activity in the market, particularly from investors. David Scholes of Auctionworks (who auction over $30 million of property every week), commented recently that leased investments are in demand over vacant property. There also looks to be a resurgence of the self managed super …

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International Interest in Australian Property Continues

International Healthway Corporation (IHC) is a healthcare services and facilities provider focussed on the Asia Pacific region. So much so, they recently acquired 553 St. Kilda Rd in Melbourne for $45 million. The property has a net lettable area of 10,170 sqm. Dr Jong Hee Sen, Executive Chairman of IHC has announced “In line with …

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Air conditioning: What’s it costing you to keep your cool?

At this time of year when temperatures are soaring, air conditioning is an important feature in just about every commercial property. Still, it is something that is given little consideration when entering into a lease. Many tenants end up with unexpected expenses related to air conditioning well after the lease has been signed. I suggest …

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Can a tenant draft their own Lease?

Traditionally it has been the Landlord’s solicitor that drafts the Lease. It makes sense to do it this way. The Landlord is the owner of the premises and knows all the intricacies and details of the property. Whilst this is still the most popular way, it has its exceptions. I recently had a couple of …

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Deals Done October 2013

Oxford Square, a substantial retail and commercial holding at 55 Oxford Street Surry Hills, has been sold for the first time in 28 years by owner Oxford Square Investments for $62.7 million to Australian Property Opportunities Fund (APOF) on an anticipated 8% yield.

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Options to purchase and rights of first refusal

Options to purchase and rights of first refusal can both be included in a commercial lease. The two terms are often confused. The difference between an option and a right of first refusal is significant, so it pays to know which one to ask for when negotiating your commercial lease. An option is an agreement …

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Variations of lease – a shortcut to extending lease terms

Quite often a landlord and tenant wish to renew their lease for a further term and keep everything else the same. The tenant normally wants to do this so that they are not simply in occupation ‘month to month’ pursuant to holding over provisions. Extending the term gives the tenant the security of knowing they …

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