Savoir Business Sales, Valuations & Financial Advisories
How do I sell my business and property?
If you own both a business and a property and are considering retirement, you might be wondering, "How can I sell my business and property most effectively?" The first step is to work with a professional experienced in selling businesses and properties simultaneously. We will assist you through the entire process, estimate the sale price of your business and property, and ensure the confidentiality of the transaction.
SAIF Partners has experienced business brokers specializing in both corporate and property sales. We have experience selling businesses together with properties.
Many potential buyers prefer to purchase businesses with attached properties, giving them more control over their operating location and eliminating concerns about whether leases will be renewed at a reasonable price. Some buyers prefer a rent-to-own option; offering this flexibility can help attract suitable buyers and allow you to receive payments in installments, spreading the tax burden.
In other cases, selling both the business and the property simultaneously can yield higher offers. Some business owners prefer a one-time sale to allow for a quick retirement and exit. Whether you want to sell both or retain the property and rent it out, we can tailor a strategy to your needs.
Confidentiality of corporate and property sales
If you are only selling a property excluding the business, it is recommended to use a real estate agent. However, if you are selling an ongoing business, you should choose a business broker with experience in handling confidentiality. You don't want your employees, customers, or competitors to know you are selling your business. SAIF will only use vague descriptions and general locations in its advertising. All potential buyers must sign a non-disclosure agreement (NDA) to obtain the business name and address information, which also protects your financial information from disclosure.
We offer a free and confidential initial consultation and can provide you with a suggested selling price. There are no fees until the transaction is finalized.
We typically need to contact multiple potential buyers to screen for suitable buyers who are genuinely interested and financially capable of purchasing your business and real estate. This allows you to focus on running your business and maintaining performance, while we handle the initial screening and negotiation, making the sales process more efficient. We can also assist buyers with financing for the purchase of businesses and properties.
Contact Us
Our senior brokers can discuss with you the best strategies for selling businesses and properties in Australia.
How can I sell my business but retain the property?
Many business owners want to retain the commercial property used for operations when selling their company. If you also want to retain the real estate when selling your business, we can simply provide a "property-exclusive" valuation for your business.
Depending on the type of your business and how much of its assets are "tied" to the property, selling it separately may lower the selling price. For example, if the plant, equipment, or facilities are core assets fixed to the property, buyers may perceive a decrease in value once the business is removed from the site.
However, from another perspective, retaining the property also offers you the opportunity for continuous income. You can rent the property to new buyers or other businesses, thereby obtaining a stable rental return and retaining long-term ownership of the real estate.
How to calculate the value of commercial real estate
在澳大利亚的商业地产投资领域，有句老话：“价值在于买方愿意支付的金额”。这在现实中虽不完全绝对，但大多数情况下成立。不过，仍有许多行业标准方法来为商业地产估值提供参考。这些结果通常是买卖双方在价格谈判中的起点。
本文将介绍四种常用的商业地产估值方法，并帮助您了解驱动商业地产价值的核心因素。
为什么商业物业估值如此重要？
商业地产的购买价格往往是整个交易中影响投资回报的最大因素。
购买阶段：
在购买环节，若投资人支付的价格过高，即便该物业从运营角度完美，也可能难以实现目标回报。因此，在买入阶段准确估值至关重要。
出售阶段：
在出售时，卖方希望获得尽可能高的售价。买入价与卖出价之间的差额是投资利润的重要组成部分。
因此，无论买入或卖出，了解估值方法与影响估值的因素，对实现良好回报都极其关键。
哪些因素影响商业地产估值？
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可比销售（Sales Comparisons）
与同一市场中相似物业的近期成交价会成为估值的“参照物”（Comp）。因此，某物业的估值部分取决于周边相似物业的交易记录。
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资本化率（Cap Rate）
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资本化率代表投资人若以全现金购买该物业可预期的收益率。
公式：资本化率 = 净运营收入（NOI） / 市场价格或出价
资本化率越低，说明市场对该资产的风险预期越小；越高，则表明市场认为风险较大，因此买家愿意支付的价格也更低。
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替代成本（Replacement Costs）
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在租金上涨迅速的市场中，老旧物业容易被更先进的新物业取代，因此需要关注重建成本。如果新开发项目具备经济可行性，则市场将吸引新竞争者进入。
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市场环境（Market Conditions）
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市场供需状况直接影响租金水平，进而影响物业估值。供应紧张、需求旺盛的市场，往往租金上升、资本化率下降，从而提高估值。
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物业用途（Utility）
物业用途越强，其市场需求越大。例如银行、连锁超市等位于交通便利地段的物业，通常价值更高。
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供需关系（Supply & Demand）
这是市场环境的延伸。供应少、需求大，会推高租金与估值；反之，则压低租金与价值。
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物业可转让性（Transferability）
若某类型物业在某市场需求高，其转手难度低、流动性强，买家愿意支付溢价。
商业地产估值的四种方法：
1. 成本法（Cost Approach）
基本逻辑：理性买家不会支付超过重建同类物业的成本。
公式：物业价值 = 替代成本 - 折旧 + 土地价值
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替代成本可通过两种方式估算：
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替代法：估算建造具有相似使用功能的建筑成本；
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复制法：估算原样复制建筑所需成本。
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折旧指物业因年久失修或老化导致的价值下降；
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土地价值通过比较近期类似地块交易得出。
该方法适用于住宅和商业物业，但在住宅估值中使用更频繁。
2. 收益法（Income Approach）
也称“资本化收益法”，是最常用于商业地产估值的方法。
公式：物业价值 = 净运营收入（NOI） / 资本化率（Cap Rate）
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NOI = 年租金收入 - 营运支出
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Cap Rate 通常参考近期相似物业的资本化率
尽管公式看起来简单，背后却需对未来租金增长、空置率、运营成本等做出合理假设。因此，该方法既科学也具有主观成分。
3. 销售比较法（Sales Comparison Approach）
该方法通过比较周边相似物业的成交情况来估算价值。
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需考虑面积、位置、设施、维护状况等因素；
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调整不同条件差异后得出估算价值或单位面积价格。
该方法在住宅地产中更常用，在商业物业估值中为辅助参考。
4. 总租金倍数法（Gross Rent Multiplier, GRM）
GRM 是通过物业产生的总租金收入来估算其价值的指标。
步骤如下：
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计算类似物业的 GRM：
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GRM = 销售价格 / 年总租金收入
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应用到目标物业：
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若参考物业的 GRM = 10，目标物业年租金为 $500,000，则估值约为 $5,000,000。
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此法计算简单，适用于早期快速评估。
总结与结论
商业地产估值是一门科学与艺术的结合：
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艺术在于：过程需做出大量假设与估计；
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科学在于：使用行业认可的四种方法确保估值具备可信度。
影响估值的核心因素包括：市场供需、物业用途、转让难易度及替代成本。
最终，一个物业的实际价值是买卖双方愿意成交的价格，而常用估值方法为谈判提供了重要的参考依据。
Should the property be sold together with the business, or sold separately?
Selling your commercial property along with your business is often more profitable than selling the property separately. When you sell your business as a package with the property, you are selling to people who need that specific property and building configuration to operate their business.
Conversely, if you choose to retain the property and sell it separately, its market appeal and value tend to decline due to its separation from the context of business operations, and the sales cycle may be prolonged. The ideal buyer is often the person who purchases your business.
Profiting from the sale of commercial real estate
Every commercial property is unique, therefore, there are several feasible ways to liquidate parts of the property while selling the entire business. For example:
Let's say you own 10 acres of land, with the business building occupying only 1 acre. You could choose to subdivide the property, selling the 1-acre commercial building along with the business, while selling the remaining 9 acres as separate assets, thus implementing a "partial liquidation" strategy.
This approach allows for finding the best use for the remaining land without affecting the sale of the business, thereby maximizing asset value.
Choice of real estate after a business sale
As the examples above illustrate, several strategies can be considered when selling commercial property. Given the current upward trend in Australian commercial real estate prices, you should assess how to most effectively manage your property when selling a business. Here are a few approaches to consider in actual transactions:
1. Sell the property and the business together:
This is the most direct and time-saving method, and in most cases, it also has the greatest profit potential. Buyers acquire a complete operating location, resulting in high transaction efficiency and minimal room for negotiation.
2. Sell the property separately:
In some cases, if a property has independent appreciation potential (such as a prime location or developable value), selling it separately may yield higher returns. However, this approach typically requires more time and paperwork.
3. Retain the property and rent it to the new buyer:
If you wish to continue holding the property, you can lease it to a new business owner and establish a lease agreement. This not only provides you with a stable long-term cash flow but also offers buyers the flexibility of a rent-to-own option, which is often quite attractive.
4. Retain the property for personal use:
Some business owners retain the property for personal or family use after selling their business. While this may not be the most profitable option, it is a practical choice for sellers who wish to maintain control of the property.
This strategy is particularly effective when buyers have no need for a particular property or have other site selection plans.
In the Australian market, how you structure your property and business sales will directly impact your tax planning, asset structure, and future income streams. We recommend consulting with experienced business brokers and tax advisors before making any decisions to assess the combination that best suits your goals.
我们对商业物业的建议
赛富始终将每位正在出售企业、资产和不动产的业主视为独立的个案。我们深知没有一种方案可以适用于所有人。
我们的做法是：首先了解您的核心目标，然后量身制定策略，协助您实现目标。
我们通常建议您保持开放的心态，即：同时提供出售和出租物业的选项。这不仅能吸引更多买家，也能让交易具备更高灵活性。
当然，这也取决于您的企业类型和行业特性。如果物业所在地对企业运营不是关键因素，或买家另有场地安排，我们也会协助您探索其他更适合的物业处理方式。
例如：我们曾遇到过企业主由于住宅位于商业用地上，因此希望保留该物业。在这种情况下，我们也能提出合适方案，以达到兼顾出售与持有的最佳平衡。
在澳大利亚的实际市场中，如何安排物业与企业的销售结构，将直接影响您的税务规划、资产结构与未来收入来源。我们建议在做出决定前，与有经验的商业经纪人与税务顾问详细沟通，评估最符合您目标的组合方式。