For the last couple of years I have been considering purchasing commercial property in my local area with the long term view of developing for it my business, which is still in the developmental stages.
I have observed that a number of local businesses have closed and even more commercial property is up for sale. Many people would agree that this is not the time to be investing in a new business. However I have also learnt that some families own a number of commercial properties and are very reluctant to sell.
I have met with a experienced local planner and have some good business contacts who agree that my business would compliment theirs and could be highly successful. I see my accountant soon to further discuss the options available, but have started this thread to:
expand my knowledge about investing in commercial property
identify the costs involved in making a purchase
learn from others about their experiences
I live in Adelaide and the main road I want to purchase a commercial property on has 32,000 vehicles pass by every day. An amazing opportunity has arisen and I don't to miss out.
