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Buying the freehold
This runs in parallel with the purchase of the business.
Other issues that we look at in the purchase of a freehold motel property can include (along with all of the other things that would go into a normal property purchase):-
- building issues – as landlord you will retain responsibility for structural matters relating to the motel. It is therefore imperative that you undertake a building inspection to ensure that you are satisfied as to the state of the property.
- fire safety – both parties under the lease will general have some repsosnisvbili8ties in relation to fire safety. Again an inspection will ensure that the motel is currently compliant.
- council searches – as with any commercial property purchase, it is important to conduct all the usual council searches to ensure that all planning and building approvals are in place and that the use of the motel is lawful.