Curently paying $17k PA on 40 sq.m. office space for my business. Been there 8 yrs. Thinking of purchasing about same size in big Melb CBD/St Kilda Rd building for approx $200k. You know the type. Lots of offices on same floor/common kitchenette/common gym and shower/ boardroom by the hour/ food at bottom of building.
The setup suits us 100% from business viewpoint.
Just doing initial research and know zero about commercial property.
Capital gains OK but not main concern as will use for years to come.
So do financiers look at owner/occupier more kindly for commercial (as in PPOR) and what sort of deposit does one need to be very sure of finance approval.
Credit and mortgage payments history 100%, have 2 investment properties at high LVR (cannot get LOC from them) but no probs as have $40k cash and in fact thinking of selling one of the props for about $550k.
Many thanks
Lee
The setup suits us 100% from business viewpoint.
Just doing initial research and know zero about commercial property.
Capital gains OK but not main concern as will use for years to come.
So do financiers look at owner/occupier more kindly for commercial (as in PPOR) and what sort of deposit does one need to be very sure of finance approval.
Credit and mortgage payments history 100%, have 2 investment properties at high LVR (cannot get LOC from them) but no probs as have $40k cash and in fact thinking of selling one of the props for about $550k.
Many thanks
Lee