To come to a view on the true value of a project before you
sell, buy or advance finance, it is important to carry out
appropriate legal and physical investigations.
We have prepared this simple checklist as a preliminary scope of
what you and your consultant team should be considering as part of
any legal or physical due diligence.
Prepare a simple summary checklist (like this one) to define
the scope clearly internally and with your consultants.
Properly engage consultants and ensure that they have
appropriate professional indemnity insurance.
Review title documents, including easements and covenants.
Review service agreements with public authorities and private
What access do you have to and from the property?
Consider matters related to tenancies, including building
occupants, car parking, overhead walkways or other rights -
consideration should be given to payments, breaches, review rights,
securities, arrears, disputes, subtenancies, assignments,
outgoings, floor areas, rent abatement and incentives and other
Tax implications of the proposal need to be understood (GST,
CGT, income tax, stamp duty etc).
Any dispute relating to the property should be identified and
any risks eliminated or mitigated.
Strata title rights and liabilities need to be understood.
Intellectual property rights relating to building operations
need to be understood and assigned as appropriate.
Insurances need to be put in place on suitable terms.
Key contractual terms (price, deposit, completion date, etc)
need to be identified and understood.
Appropriate performance guarantees need to be obtained from the
These are only some of the matters that you may need to
To perform a thorough due diligence, you will need to work
through a much more detailed checklist, taking into account the
nature of the particular project and all the relevant assets and
liabilities, both current and contingent.
The Council announced planning policies to encourage more inner suburban retirement village and aged care development.
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