Section 66 (5) of Superannuation Industry (Supervision) Act 1993 (SISA) defines Business Real Property - 'any freehold or leasehold interest in property - where the property is used wholly and exclusively in one or more business (whether carried on by the entity or not)'.

Furthermore, Self Managed Superannuation Fund Ruling 2009/1 (SMSFR 2009/1), gives numerous examples as to what constitutes Business Real Property. 

http://law.ato.gov.au/atolaw/view.htm?DocID=SFR/SMSFR20091/NAT/ATO/00001

Section 66 of SISA, also permits Business Real Property to be transferred into a related persons SMSF.

If property can be defined as Business Real Property in the context of a SMSF and transferred or purchased within a SMSF significant advantages can achieved.

The advantages on transferring and holding your business premises in a SMSF have been discussed before - please refer to posting 18 May 2012.