Service

Commercial Property Law

Key Contacts

Jonathan Gillard

Managing Principal

Jeff Kenny

Principal

Michael Vanner

Principal

Katrina Wood

Principal

Related expertise

Construction Corporate & Commercial Property & Projects Residential Property & Development Retail Leasing & Projects

Development, ownership and leasing of commercial property are high-value projects.

All parties in the commercial property sector, whether it be landlords, tenants, developers or purchasers, are generally engaged in long-term contractual relationships of significant value. In an increasingly risk-averse and litigious market, the potential for a dispute in commercial property matters is high, and the cost of defending a dispute cuts into your bottom line.

Our Team have acted on large- and small-scale developments throughout New Zealand. Our commercial property lawyers have the experience to work with you from end to end in the property development process - from land acquisition and feasibility, development financing, construction, right through to completion, whether that involves a sale or lease of the finished product.

Our team are recognised experts in the commercial leasing space, representing some of the South Island’s largest commercial property and business owners.

We ensure your project has robust contracts to minimise the likelihood of enduring a time-consuming and costly dispute.

Our team are able to assist with a variety of matters, including:

Land acquisitions.
Construction contracts.
Development financing.
Subdivisions.
Negotiating leases and associated work such as extensions or rent reviews.

Notable experience:

Providing advice to a closely held commercial property investment company in relation to the raising of capital through the issue of additional shares.
Assisting with the refinance of a commercial property portfolio worth in excess of $150m.
Handling the sale of a suburban shopping centre.
Providing advice in relation to the redevelopment and expansion of existing shopping centres.
Providing advice in relation to the development of a new regional shopping centre.
Advising clients during the construction of Spark Square (Christchurch) and Invercargill Central Developments.
Acting for a Christchurch commercial property owner on the development and leasing of a prominent mixed commercial use CBD building.
Advising terms of multi-million dollars worth of property development finance from first, second and third tier lenders.

FAQs

Disclaimer: FAQ information is of a general nature only. The information included in no way constitutes legal advice and all readers should contact a law firm for advice relating to their specific circumstances.

What due diligence should I undertake before buying a commercial property?

Due diligence should include titles, LIMs, council property files, resource consents, leases, building compliance, building maintenance and repair and seismic strength. Depending upon the type of property, other investigations may also be required.

What due diligence should I undertake before buying a development site?

A thorough feasibility study should be carried out. This should include investigating the site itself, as well as applicable zoning laws, likely construction costs, and likely return on investment (rental income).

Should I buy commercial property personally, through a company, or through a trust?

Typically we recommend that commercial property be purchased through a company.

What is a cap rate?

A cap rate (short for “capitalisation rate”) is a metric used in the valuation of commercial properties. It represents the return on investment that a property generates. It is calculated by dividing a property’s net annual income by the property’s market value.

Is there a standard commercial property lease that I should use?

There are several “market standard” template leases available. Often one of those will be a good starting point, but it should be customised to suit the circumstances.

What are my disclosure obligations when selling a commercial property?

Disclosure obligations are tricky to navigate. Often the legally safest course is to disclose everything, but, disclosure of everything won’t necessarily result in the best financial outcome. So, if in doubt, it’s best to obtain legal advice.

Commercial Property Law

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