Burswood Commercial Real EstateBurswood Commercial Property and Real estate: Burswood Commercial property generally relates to commercial real estate located along the Great Eastern Highway but is also applicable to all areas of commercial. This can include high rise office buildings, industrial properties (although that is generally referred to as 'industrial real estate' The term can also include medical centres, restaurants, cafes, hotels, shopping malls and retail shopping centers.
In urban locations, a high rise commercial building often multiple uses, such as an offices located above commercial on the ground floor
The term 'burswood commercial' or 'burswood commercial real estate' refers to buildings or land with the appropriate R zoning. The R zoning (R Codes) basically refers to how many dwellings can be placed on a 1 acre area. ie: R40 would allow 40 houses to be built, giving 250 square metres per lot.
Commercial real estate can be identified into 6 different categories.
- 1) Retail
- 2) Leisure / Hotel
- 3) Office
- 4) Industrial / Warehouse
- 5) High Rise apartments
- 6) Medical centres
Commercial Real Estate Definitions
A building that is primarily used for the purpose of conduction business, either in a suburbs Central business district or areas with a designated 'commercial' zoning.
Commercial areas includes smaller shopping centres, petrol stations and office blocks.
Most of Burswood's commercial properties are located along both sides of the Great Eastern Highway and includes high rise office blocks and motels. Another large commercial area is the Burswood Entertainment complex.
It is purely an areas zoning, determined by the relevant authorities and town planners, that determines whether 'commercial activity and building' can take place and where.
How commercial estate works:
In Burswood, commercial real estate (buildings or land) is leased out to business tenants who pay a weekly rent for the use of the building and its facilities / amenities. The commercial lease, usually involves set period of time, ie: 3 or 5 years, with set rent reviews and set increase over the period of the lease, usually linked to the Consumer Price Index (CPI) The Lessee is also responsible for paying all the 'Outgoings' which includes all rates and taxes based on a rateable value by local councils. The tenant, or Lessee, is also responsible for paying all utilities such as telephone and water and gas consumption.
The Landlord, or owner of the commercial property, is responsible for the maintenance, insurance and general upkeep of the building itself.Map of Commercial property management in Burswood, West Australia (WA)
View Burswood Commercial Larger Map
Burswood Commercial Real Estate Prices:
Owing to huge diversity of commercial real estate in a relatively small area, unlike residential real estate, a median property price is not used. This is also due to the zoning allowing for redevelopment under different R Codes.
Purchasing Commercial Real Estate in Burswood:
Owing to high values of commercial real estate, which can range into several millions of dollars, there are Real estate agencies that specialise just in the sale and leasing of Commercial properties.. A properties exposure to passing, or 'foot traffic' also has a direct bearing on the price , both rental and leasing.