Depending upon what your Lease specifies upon termination, the cost to “make good” the property can vary dramatically. Furthermore, the tenancy fit-out (and original condition) of the property can also impact on that cost.
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Whenever you acquire a Commercial property, you would normally investigate this as part of your Due Diligence — depending upon the current use made of the property.
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Owning a Commercial property means that you do have certain legal responsibilities. And among them are your property’s compliance with the various Essential Services requirements, under current Building Regulations.
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Last week, the Reserve Bank of Australia (RBA) held its cash rate at 6.25% for the eighth month in a row — a decision welcomed by the Government and home buyers alike.
Inflation figures (due out later this month) could put pressure on the RBA to lift rates. However, the high Australian Dollar (at around US 85c) means that there is no external pressure on inflation, from imported goods. And, despite the higher dollar, demand for our exported commodities remains at record levels — which has in turn narrowed our Trade deficit.
Therefore, even with our GDP growing, inflation seems to have remained in check. And this is likely to continue — given the modest wage increase just granted with the Fair Pay Commission.
While the RBA has left interest rates on hold at 6.25% … our rates are still well above other major countries. That makes Australia an attractive place for overseas funds — which is causing our dollar to remain high. And you should see this situation continue for the next 4 to 5 months.
Then, as other countries start to increase their own interest rates … you will quickly see our rates follow suit.
Your latest G+L eBulletin is now available. And you will be astonished at just how much the Resources boom has been impacting upon the Office markets around the country.
How will it affect you?
Interestingly, it is not spread evenly across Australia — so make sure you’re not caught unaware.
Read the full G+L eBulletin — Winter 2007
First, you’ll need to take a look at the picture, within the full posting.
And then, simply decide how you believe the doctor would have replied.
