Hi Michael……thanks also for the reply.

The property sits on 2 titles of land (1200SqMtrs) in the CBD and is zoned commercial. Built by very reputable builders in 2004 and has good street appeal. Landscaped grounds and car parking for 6 cars in situ. Oposite a fairly new supermarket and 100 metres from a nice beach – partial seaviews from upstairs. Land available for poss future development (more shops etc as town grows)

Basically I think I have a good idea why the property has sat so long. It has a strange layout inside – not really suitable for anyone wanting to buy a residential home and also unsuitable for most business types. I would be looking to operate my own business from within and it suits my requirements nicely, so my company would be leasing from myself, not me leasing to other tenants. Property is currently vacant and caretaker is maintaining grounds etc.

BTW, did you say that when purchasing commercial property as investment, that you only pay stamp duty on any mortgage you take out on the property (i.e. if you were lucky enough to finance 100% costs, you wouldnt pay stamp duty??) – perhaps I misunderstood?

Anyway, thanks for your advice so far, much appreciated

Regards
Russ