Buying Commercial Property in New Zealand
One of the options you have if you want to invest in New Zealand is to buy commercial property. This can be either as a pure investment, or as an investment in a building that you will run your own business in.
You have several options available to you when it comes to buying commercial property. This includes buying as an individual or through a legal entity such as a company, partnership, or trust.
What You Need to Know When Buying Commercial Property
- A range of property types are available including offices, retail premises, industrial premises, showrooms, tourism complexes, warehouses, and more.
- Real estate agencies that deal in commercial properties have listings of current properties for sale. You can also use websites like realestate.co.nz.
- You may be able to purchase a property that already has tenants.
- Tenants are responsible for repairs, utilities, insurance, rates, and decorating.
- You should get a Land Information Memorandum on any building you are thinking of buying. It is a report outlining the information the local council has on the property. This include restrictions on its use, details of unpaid rates, potential problems with the land (erosion, slippage, etc), and more.
- You will need a lawyer to process the purchase of the property.
- You may have to pay Goods and Services Tax on the property. This tax is currently 15 percent.
Our help is available whatever stage of the buying or immigration process you are currently at. Call a member of our team today on 09 3790219.