You're reading a sample. Toggle the tier in the top-right to see Standard ($19) vs Premium ($49) vs Deluxe ($79).
Demo toggle, top right ↗
Sample report
This is an illustrative sample. Numbers and fields shown reflect what a complete report contains for a NSW commercial property; your report will be specific to your address.
Single-tenant Crows Nest retail on a fresh 7-year lease at $1,180/sqm net. Strong covenant against a Metro-priced strip, but three doc-level issues need resolving before exchange.
| Asset | Single-tenant retail premises, ground floor + mezzanine |
| Lettable area (NLA) | 162 sqm |
| Passing rent | $191,000 pa + GST + outgoings |
| Lease term remaining | 6.4 yrs to first expiry, 2 × 5 yr options |
The overall score above is a weighted blend of location/asset quality, environmental risk, yield and flag severity. It is not a simple average of the rows below. Tenant covenant is shown for context but does not itself feed the overall score.
| Dimension | Score / 10 | Comment |
|---|---|---|
| Tenant covenant | 7 | Established national operator; ASIC current; no adverse notices. |
| Lease quality | 7 | Net rent, CPI reviews, market review at option, standard make-good. |
| Pricing vs comps | 6 | Asking $3.55m sits at 5.38% yield. Crows Nest 12-mo strip comps cluster 5.0% to 6.2%. Mid-pack. |
| Planning / use | 8 | B2 Local Centre zoning; retail use fully compliant; no current DAs. |
| Physical condition | 6 | Building survey pending; vendor disclosure flags one make-good obligation. |
| Contract risk | 5 | Three HIGH-impact contract issues flagged below. See Section 1 for redline. |
| Target net yield | Implied price | Zone & commentary |
|---|---|---|
| 5.00% | $3.82M | walk above · Above this level the strip's recent prints don't support the price. |
| 5.50% | $3.47M | stretch · Justifiable only if HIGH flag #1 is fully resolved in writing. |
| 5.75% | $3.32M | target · Mid-market for Crows Nest 2065 retail strip, 12-mo window. |
| 6.25% | $3.06M | opportunistic · Reflects unresolved incentive-deed exposure carried by Buyer. |
The following are unresolved deltas between the contract / disclosure and independent evidence. Each must be closed out before exchange.
The Incentive Deed (v1, signed 2024) records a $48,000 fit-out contribution payable to the Tenant on each option exercise.
Reference Schedule of the sale contract is silent on whether this obligation transfers with title at settlement.
Without an explicit assignment, the Tenant could legitimately invoke the deed against the Buyer post-settlement while the Vendor retains the cash benefit of the sale.
Action: Insert a special condition assigning all Vendor obligations under the Incentive Deed dated 14/03/2024 to the Buyer, with the deed annexed.
Lease cl. 4.1 permits use only as 'a licensed café and ancillary retail'.
Vendor's Disclosure Statement describes the tenancy as 'café, takeaway and small-bar use'.
If the Tenant later seeks to expand into the small-bar use described to the Buyer, the lease as drafted would require a deed of variation, and may trigger a market review.
Action: Require Vendor to procure a deed of variation widening cl. 4.1 to match the disclosed use before exchange, or accept a price adjustment.
Property sits within mapped bushfire prone land. Northern boundary abuts unmanaged bushland.
Action: Obtain a specialist report and confirm before exchange.
Schedule 3 of the lease specifies a bank guarantee equal to 6 months gross rent ($95,500).
Leases Schedule attached to the contract records the guarantee as 'to be provided on settlement of sale'.
Buyer accepts settlement risk if no guarantee exists at completion.
Action: Require Vendor to lodge the bank guarantee in escrow at exchange.
LGA-wide urban heat island intensity of +2.4 degrees C above regional baseline. Canopy cover deficit in immediate suburb.
Action: Obtain a specialist report and confirm before exchange.
Property is listed as a local heritage item in the council Local Environmental Plan. Affects renovation and demolition scope.
Action: Obtain a specialist report and confirm before exchange.
The contract's Adjustments clause omits whether land tax is adjusted on a single-holding or multi-holding basis.
For a Crows Nest commercial property, single-holding is materially lower (~$8.4k pa vs ~$31k pa multi-holding).
Action: Insert single-holding basis as a special condition or accept multi-holding adjustment with eyes open.
Vendor's claim against independent finding. 6 facts checked; only non-match rows shown by default.
| Fact | Vendor's claim | Independent finding | Status |
|---|---|---|---|
| Permitted useLease: use | café, takeaway, small-barDisclosure Statement item 12 | licensed café + ancillary retail onlyLease cl. 4.1 | MISMATCH · Flag 2 |
| Incentive obligationContract: special conditions | (silent)Sale Contract Schedule 2 | $48k payable to Tenant on each option exerciseIncentive Deed cl. 3.2 | MISMATCH · Flag 1 |
| Bank guaranteeLease: security | $95,500 (6 months gross)Lease Schedule 3 | 'to be provided on settlement'Leases Schedule (Sale Contract) | MISMATCH · Flag 3 |
| Land tax basisContract: adjustments | (not stated)Sale Contract cl. 14.5 | default = multi-holding under standard formConveyancing (Sale of Land) Regulation 2017 (NSW) | OPEN |
| Outgoing | Annual | Recoverable? | Risk |
|---|---|---|---|
| Council rates | $4,820 | YES | |
| Water rates | $1,940 | YES | |
| Land tax (single-holding) | $8,400 | NO | Retail Leases Act 1994 (NSW) s.23 prevents pass-through. |
| Insurance | $3,620 | YES | |
| Repairs / capex | $2,200 | NO | Landlord obligation under cl. 12. |
Standard make-good on lease expiry; one obligation flagged in Vendor Disclosure (worn flooring in trade area).
Retail Leases Act 1994 (NSW) applies. Lease was registered as retail; protections apply throughout.
| Item | Detail |
|---|---|
| Lease (registration number from title) | Illustrative. Encumbrance list is read from the uploaded contract / title search |
| Easement for services | Illustrative. Easement details are read from the uploaded contract |
Multi-holding default applies absent special condition. See flag #4.
| Going-concern test | Status |
|---|---|
| Property tenanted at settlement? | YES |
| Vendor and Buyer both registered for GST? | Vendor YES, Buyer PENDING |
| Written agreement that supply is going concern? | YES (Schedule 2) |
No active development applications. One historical DA (2019) for shopfront refit, approved and completed. Section 10.7(2) certificate clean.
Per-property commercial sale records are not published as open data in NSW (the Valuer-General bulk sales feed is licensed CC BY-NC-ND, so we cannot republish individual sales in a paid report). DealVet instead reports area-level context from ABS. Crows Nest commercial retail has no separate published median, so the figures below are the residential dwelling benchmark for the area. Treat them as locality context only, not a comparable for this asset. For an asset-level value, commission an agent appraisal or a registered valuation.
Basis: no commercial comparable available; residential median shown as locality context only
| Item | $ pa | Notes |
|---|---|---|
| Gross face rent | $191,000 | Per Leases Schedule |
| Outgoings recovery (recoverable items) | $10,380 | Council, water, insurance, passed through under cl. 11 |
| Item | $ pa | Notes / Risk |
|---|---|---|
| Land tax (single-holding basis) | $8,400 | If basis specified pre-exchange (flag #4) |
| Repairs / capex reserve | $2,200 | Landlord obligation, cl. 12 |
| Vacancy reserve (3% of rent) | $5,730 | Conservative, single-tenant |
| Net yield | Implied price | Comment |
|---|---|---|
| 3.50% | $5,456,857 | Implied price at 3.5% net yield (NOI / 0.035). |
| 4.00% | $4,774,750 | Implied price at 4.0% net yield (NOI / 0.040). |
| 4.50% | $4,244,222 | Implied price at 4.5% net yield (NOI / 0.045). |
| Implied price | Standard | AFAD (foreign) | Total if foreign |
|---|---|---|---|
| $3,550,000 | $177,661 | $0 | $177,661 |
Annual land tax on a land value of $3,550,000 (NSW). Estimated on the sale price as a proxy. Actual land tax is assessed on the Valuer-General site value, which is typically lower. Source: https://www.revenue.nsw.gov.au/taxes-duties-levies-royalties/land-tax
Going concern. Supply between two GST-registered entities at settlement, no GST on the consideration.
Calculated via Deterministic aggregate of stamp_duty + land_tax + council_rates + strata_levy + insurance + gst.
| Line item | $ |
|---|---|
| Stamp duty (year-one one-off) | $177,661 |
| Council rates (12 months) | $2,310 |
| Insurance (building + contents median) | $5,200 |
| GST (one-off, on contract settlement) | $355,000 |
Total: $540,171 — one-off $532,661 + annual recurring $7,510
Calculated via ATO GST property guide (commercial premises taxable at 10% of sale price).
Calculated via North Sydney City Council Rates Resolution (FY2024-25) (median fallback). Council-specific schedule.
Source: https://www.northsydney.nsw.gov.au/property-rates/rates-charges
Illustrative sample text. The live pipeline does not assert asbestos presence without an uploaded hazardous-materials report; your report will state the data source for any asbestos claim.
Illustrative sample text. The live pipeline produces qualitative transport context only when grounded in a free public-transport dataset; pedestrian-count rankings and named council retail audits are not part of the current ingestion pipeline.
| Search | Source | Result |
|---|---|---|
| EPA contaminated land record | NSW EPA | Not on register |
| Section 10.7(2) planning certificate | North Sydney Council | No flood, no contamination overlay |
| Section 149: heritage | North Sydney Council | Not heritage-listed |
Advantaged area (SEIFA IRSAD 1088); median $2,480/wk, age 34
In-zone for Anzac Park Public School, Cammeraygal High School
Theft: ranks 98 of 128 NSW LGAs (1 = safest)
| Category | Count | Rate / 100k |
|---|---|---|
| Theft | 421 | - |
| Document | Status | Date |
|---|---|---|
| Title search | REQUEST | (pending) |
| Lease (registered) | REQUEST | (pending) |
| Vendor Disclosure Statement | REQUEST | (pending) |
| Incentive Deed | REQUEST | (pending) |
| Section 10.7(2) certificate | REQUEST | (pending) |
| Phase 1 ESA report | COMMISSION | (pending) |
High exposure
BAL-29 bushfire prone land
Property sits within mapped bushfire prone land. Northern boundary abuts unmanaged bushland.
Construction or major renovation must comply with AS3959-2018 ember protection requirements. Existing dwelling will be assessed at BAL-29 by any insurer.
Not exposed
Outside mapped flood extent
No intersection with the 1-in-100 year flood extent or any higher return-period zone.
Manual check required
Landslip data not available for this council
This LGA does not publish a statewide landslip risk overlay. Recommend ordering a geotechnical site report from a registered engineer if slope is over 10 degrees.
Moderate exposure
Elevated urban heat island intensity
LGA-wide urban heat island intensity of +2.4 degrees C above regional baseline. Canopy cover deficit in immediate suburb.
Expect higher summer cooling costs and reduced amenity on heatwave days. Future climate models project further uplift by 2050.
Low exposure
Listed contaminated site within 500m
A historical service-station site is recorded on the NSW EPA contaminated land register 320m to the south-east.
Distance and site classification mean direct contamination is unlikely, but groundwater pathway warrants disclosure during conveyancing.
Moderate exposure
Local heritage item under LEP
Property is listed as a local heritage item in the council Local Environmental Plan. Affects renovation and demolition scope.
Any external alterations require a heritage impact statement. Demolition is generally prohibited. Allow 8-12 weeks additional DA timeline.
Council overlays, zoning, heritage, flood and bushfire layers will return as an interactive map in a future update. For now the underlying findings are reflected in the Planning and Environmental sections.
Chat with this report
Deluxe ($79) adds a chatbot that answers questions from the full dossier. Switch the tier toggle to Deluxe to try it.
One upgrade opens a whole category. Same report, deeper detail.
Maximum reasoning depth and a due-diligence cross-check of the lease and contract you upload.