Things to Check Before Buying an Office at Yıldız Residence
What to check before buying an office at Yıldız Residence in Gayrettepe: title deed designation, parking rights, service charges and existing leases.
Yıldız Residence is a young office and residential project on Yıldız Posta Street in Gayrettepe. Its covered car park, proximity to the metro and compact office units, mostly with a 1+1 layout, attract both companies that want to own their workspace and investors. Even in a new building, however, the decision to buy an office should not rest on floor area and price alone. In this post we bring together the points to check, one by one, before buying an office at Yıldız Residence.
How the unit is registered on the title deed
The first thing to look at is how the office is registered on the title deed. Whether the unit is recorded as an office, a commercial unit or a residence directly affects commercial activity, the business licence and tax. This distinction matters especially in projects that combine office and residential use. If you plan to use a unit registered as a residence as an office, the building management plan and decisions of the owners' assembly may be decisive, so legal advice before buying is recommended.
Building management plan and rules
The management plan is the key document that sets out what is allowed in the building: signage and logo use, working hours, visitor and delivery access, use of shared areas and permission for alterations. For a business that receives clients or visitors, these rules need to fit its daily routine.
Parking rights and shared areas
Yıldız Residence's covered car park is a real advantage in a busy business district such as Gayrettepe. Make sure you clarify whether a parking space is allocated to the unit you are buying, how this right is defined on the title deed or in the management plan, and whether visitor parking is available. Parking rights affect both the office's usability and its resale prospects.
Floor, aspect and daylight
Even two offices with the same layout can differ in value. The floor, whether the unit faces the street or the rear, daylight, street noise and visibility all affect working comfort as well as how easily the office can later be let or sold. Viewing the office at different times of day helps you make the right call.
Service charges and purchase costs
The total cost is more than the sale price. Calculate from the outset what the service charge covers (security, cleaning, maintenance, common costs) and items such as title deed fees, VAT where applicable and property tax. For current rates and your own tax position, it is wise to consult a financial adviser.
Buying an office with a tenant
If the office you are considering is let, review the term of the existing lease, the rent, the review terms and the deposit. If you want to use the office yourself, the vacancy timeline matters; if you are buying as an investment, the tenant's payment record and the remaining lease term will shape your decision.
A short checklist
- Title deed: unit designation and any mortgage, attachment or annotation.
- Building: occupancy permit and management plan.
- Parking: an allocated space and visitor parking.
- Costs: service charges, taxes and purchase expenses.
- Lease status: if there is a tenant, the term and conditions of the lease.
What to look at when viewing the office
When viewing the office, look beyond the interior to how the building works as a whole. Entrance and security arrangements, the upkeep of lifts and shared areas, how easy the car park entrance is to use and the cleanliness of the building all affect daily comfort. A short meeting with building management is the easiest way to learn what the service charge covers, whether there are any arrears and which common costs are planned. Confirming this information in writing before the sale contract prevents disputes later.
Our guide to the building's location, features and frequently asked questions: Yıldız Residence offices for sale.
If you are looking for an office at Yıldız Residence or thinking of selling yours, please get in touch with us.
Özkan ÖZEL
Strategic Real Estate Asset Management
Beşiktaş / Istanbul
ozkanozel.com
#YildizResidence #GayrettepeOffice #YildizPostaStreet #IstanbulCommercialRealEstate
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