Commercial Properties w Michael Olivieri

16th November 2023

BRIEF SUMMARY OF THE EPISODE

Today we chat all things buying commercial property with Michael Olivieri from Central Coast Buyers Agent.

BULLET POINTS OF KEY TOPICS & CHAPTER MARKERS

Tim & Danlow [1:20] Tim has survived Lewi’s first birthday; Dan is continuing the tradition of using a hiking bag that’s done a few laps around the world, the last 40 years with his parents. Michael is struggling with the changing weather.
Business Update [7:29] Special thanks to CATS Accountants for sponsoring the Business Update as always. Interest rates have gone up, again. It was predicted, people said it would go up, and it did. Hopefully, that means it might stay flat for a while. But with the inflation rate meant to go to 4.5%, it would indicate that the interest rates aren’t going anywhere.
Tim’s Tight/Time Ass Tip [10:26] Shared notes on your smartphone. Both a good and bad thing.
Main Topic [12.49:] Michael Olivieri, is a Buyer’s Agent, who specializes in Commercial Property. We have broken our chat down into three Property types, Industrial, Commercial, and Retail.

The main things you want to look for when purchasing a commercial property are:

Car Parking – for you, your staff, and of course, customers
Signage – depending on where you are, this could increase customer traffic.
Security – again depending on location, having cameras and an alarm system.
Power – is very important in all 3 of these. You need to have a certain number of amps depending on what you are doing. Manufacturing, hospitality, etc. Be aware as you will need to put some $$ into this.
Zoning, permitting use. What was the previous use, is it going to be right for the use I intend?

Other things to look out for based on the type of property.

Industrial
- Check the strata bylaws, some laws prohibit the use of dirty (exp. oil) materials.
- Egress and ingress – making sure you can enter and exit efficiently and effectively.
- Roller door height
- Internal height – to potentially allow mezzanine locations.
- Office facilities- kitchen, toilets, etc.
Commercial
- IT / Internet Capacity
- Existing Fit-out – does it suit your use, or do you need to refit?
- Space for a growing team – think about the growth of your business, you could lease the extra space in the interim.
- Wheelchair access.
- Signage. Perhaps if you have great visibility, but your business doesn’t need it, you could lease this space out.
Retail
- Exposure – what kind of exposure do you have or need?
- Frontage – having a big open visible space on a main road, can be expensive, however, if you don’t need that visibility, you could find something much cheaper a few streets back from the main road.
- check what the usage was for previously, zoning only lasts for 12 months, so you will need to reapply for this.
- As previously listed, wheelchair access is even more important here.

Other Thing [34:04]
Michael’s other thing is a book! The E Myth
Tim’s other thing is Software, called Tango.
Dan’s other thing is Spotify! He has found all his old playlists and is loving going down memory lane. Feeling all the feels.

RESOURCES & LINKS