Reply With QuoteIt it part of a block? If so there could be a liability for service charge despite the fact that its freehold.Originally Posted by spud767
Hi, I'm looking to buy a commercial unit that's freehold and was a workshop/business but is now being sold. I don't intend initially renting it out as I'd like it as my own personal space for storage and having my own workshop but won't be running a business from it. From what I gather the rateable value is below the threshold so if I was a small business I wouldn't be eligble for any rates, however as it's for personal use I can't find any info on what I may be liable for cost wise.
I realise there will be buildings insurance, water and electric but other than that is there anything else?
Has anyone done this and what was the outcome?
Thanks Spud.
They are in a block but all individually owned. There's no service charge that I know of, it's more the worry about some sort of rate/council tax charges of some description I'd have to pay as a private owner rather than a business.
Can't help with that (and there could still be a management company responsible for managing repairs and maintenance for the block). Also, make sure you know the permitted use classes for the unit you're interested in (it sounds like you'd be B2/B8) so you don't get any nasty surprises down the line.
Ok thanks. It's weird I've scoured the net and thought this might be a common question but I can't find anything at all on it.
This might be totally irrelevant - but check what energy tariff it is on.
If it was a business tariff before- can you change to a domestic tariff?
Do you require insurance to cover damage to adjoining units?
Might be worth the questions.
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