Purchase/Sale of Commercial Premises or an Apartment Development

This is frequently done by way of a long (999 year) Lease so that all the "buyers" in the retail park or estate or apartment development are bound by convenants contained in the various Leases. You should make careful enquiries about annual service charges and the management company and how it is run and whether it maintains a sinking fund to cover capital expenditure that may be necessary in due course for building dilapidations for which no invidual tenant/ower is responsible.

See also the following site for further information:
National Consumer Agency - www.consumerproperty.ie

'Buying and Living in a Multi-Unit Development Property'

© 2010 John A. Sinnott & Co Solicitors