Head Office

3 Ordish Road
Dandenong South

Eastern Office

Suite 1, 333 Wantirna Road
Wantirna

Phone

03 8788 9000

Property Management

Selling Your Business

During your tenancy, you may need to sell your business or assign the lease to another party as a result of growth or retraction. This is a simple process which, provided you advise our office and undertake the correct procedure, is quick and relatively painless.

If you are looking to sell your business, let your Property Manager know. They can inform the Owner so it is aware of the impending transfer of tenancy. The process involves the Purchaser completing an application form to ensure they are suitably qualified as a tenant and will be able to meet the obligations of the lease which you and the owner have entered into. The purchaser will need to adequately show they are financially stable and so will need to supply evidence such as Assets & Liability statements, current bank account deposits and suitable business references. Failure to supply these elements will delay the processing of the transaction as we will not liaise with the Owner unless we have all the required evidence. There is a Sale of Business applicable to these transactions.

During a tenancy you may also need to assign the lease due to growth or decline in business. This too is a common transaction and the correct process needs to be followed. Once informed of your need to assign the lease, one of our Sales & Leasing agents will make contact with you to discuss the current market and the related advertising and marketing costs you will incur. These costs are payable upfront and will be held in our Trust Account until they fall due. If the transaction is unsuccessful, we will refund you what is being held, less any costs incurred.