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• Foreign Investment
• Who Is Required
• Which Investments Require Approval
• Commercial Real Estate
• Small Business
• Other Acquisitions
• Breaches Of The Act
• Making An Application To FIRB
• Residential Real Estate

Commercial Real Estate

Commercial real estate includes vacant land for commercial development and developed commercial property. 

Foreign interests intending to acquire commercial real estate are required to seek approval from the FIRB prior to purchase unless the acquisition is exempt.  Exempt acquisitions include:-

• developed commercial property valued at less than $50,000,000 or $953,000,000 for US investors, or $5,000,000 for heritage listed properties where the acquirer is not a US investor; and
• developed commercial property where the property is to be used immediately and in its present state for industrial or non-residential commercial purposes.  The acquisition must be wholly incidental to the purchaser’s proposed or existing business activities.

Developed Commercial Property

Developed commercial property includes the acquisition of hotels, motels, hostels etc.  Proposed acquisitions of developed non-residential commercial real estate valued above the relevant thresholds are normally approved unless they are determined to be contrary to the national interest including vacant land. 

Vacant Commercial Land

Proposed acquisitions of real estate for commercial development are normally approved subject to the following conditions:

• continuous constructions commencing within 5 years;
• the minimum amount equivalent to 50% of the acquisition cost or current market value of the land (whichever is higher) being spent on the development.

If you have any question's relating to Foreign Investment, please contact Byron Cannon on byron@fclawyers.com.au or (07) 5443 6600.