• Commercial & Business Law

    Commercial & Business Law

    We are first and foremost commercial & business lawyers in Melbourne for people.  Our team will work with you to develop, manage and execute your business plan while ensuring you exploit opportunities, manage risks and achieve commercial success.  

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  • Dispute Resolution & Litigation

    Dispute Resolution & Litigation

    We are litigation lawyers in Melbourne specialised in commercial litigation and dispute resolution, we appreciate that resolving a dispute requires more than just following court processes. You can trust Taurus to be in your corner, and fight to deliver results.

     

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  • Property & Conveyancing

    Property & Conveyancing

    Enhanced by a wealth of experience, Taurus’ conveyancing lawyers in Melbourne can assist you with all of your conveyancing needs.

    Whether you are selling or purchasing your dream home, we are experienced in handling the conveyance to ensure the smooth settlement of your property.  We successfully perform all steps of your conveyance from reviewing or drafting the Contract of Sale through to confirming settlement has been completed with your real-estate agent.

    We are passionate about providing exemplary personal service to every client and understand that we are here to assist you during one of your most exciting and stressful transactions. We ensure that all of our clients are provided with regular updates and use our own portal allowing clients to login to view the progress of their transaction at any time.

    The conveyancing lawyers at Taurus are registered with PEXA and experts in their field.

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  • Intellectual Property

    Intellectual Property

    One of the most valuable assets of any business is its intellectual property. We as intellectual property lawyers Melbourne empower our clients to protect their brand, systems and confidential information by offering them a broad range of legal services related to their IP.

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  • Insolvency & Bankruptcy

    Insolvency & Bankruptcy

    We act on behalf of business lawyers, creditors, debtors, and insolvency practitioners in a variety of re-structuring and insolvency matters.

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  • Debt Recovery

    Debt Recovery

    We will recover your debts as if they were our own. For many owners, directors, and managers, debt recovery is one of the most confronting and challenging aspects of running a business. It is also crucial to the cash flow of the business, and therefore critical to its financial success.

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  • Employment Law

    Employment Law

    We help our clients meet the demands and challenges of managing their workforce.

    We have a team of employment solicitors can assist in any employment law matter ranging from drafting employment agreements to giving termination advice and handling unfair dismissal applications.

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ENQUIRE

Every business needs a premises. Is it best to purchase that premises or to rent it? Good question. The answer depends on your circumstance and goals.

Advantages of Buying Commercial Property

  • Ownership: the main advantage of buying property is that you own it. You can create the fit-out and design you want to perfectly suit your business.
  • Sub-leasing: if the commercial property is too big, you may sub-lease or grant a licence to another person or company to use part of the property. This is a great way to generate some extra income for your business.
  • Realising Asset: the property is an asset that may be sold or borrowed against to realise funds, if you need it.

Disadvantages of Buying Commercial Property

  • Upfront Cost: the obvious disadvantage is the upfront cost of purchasing the property.  You will also need to tie up your borrowing capacity.
  • Lack of Flexibility: when purchasing your property, it is important to remember that your business will stay in that location for a significant amount of time. This could have a negative impact on your business if the majority of your customers are not located in the immediate vicinity or you quickly outgrow the property or reduce staffing levels, and the property is no longer suitable.
  • Increased Liability: owning your own property is likely to come with costs that are generally not applicable to leases, such as a mortgage and maintenance costs.

Advantages of Leasing Commercial Property

  • More Liquidity: leasing allows your business to quickly adapt and respond to any changes.
  • Greater Flexibility: leasing gives you the flexibility to move locations to be closer to your clients and down-size or up-size with ease. You may also find it easier to find a new commercial property to rent, than one to purchase.
  • Fewer Outgoings: the landlord has to maintain the building and fixtures.

Disadvantages of Leasing Commercial Property

  • Investment: by leasing the property, you miss out on the long-term investment potential.
  • Rent Increases: being a tenant means that you are vulnerable to rent increases each year. You may also find that the landlord will want to negotiate a rent increase when the lease is renewed. On the other hand, when you purchase a property your expenses are more or less set.
  • Leasing Income: leasing the property will prohibit you from acting as a landlord and generating leasing income.

 

Ultimately the decision to buy or lease will depend on your circumstances and the needs of your business. Whether you chose to buy or lease, we recommend you seek legal and financial advice to ensure that you make the best decision for you and your business.

Posted by Taurus Legal Management