I would love to buy my own commercial property, but not without considering first the business rates payable on the property, which could be the nail in the coffin, so to speak! I bring this up as people buy commercial property, and people phone us up telling us they have purchased a commercial property, but then comes the business rates. Its a common thing for us that the client has purchased a bit of land and some commercial buildings on the land, but they dont want to pay the business rates as the premises is either not being run as a business or its under development. But still the council want their business rates. And so the situation can sometimes be very desperate, because if you run out of money due to the cost of the business rates etc, you could even end up losing the property. It happens, we see it happen, it can be avoided entirely. Before you buy any commercial property, look into the entire business rates liability costs and email the council and fact find with research exactly what the costs will be should you buy it. Of course if your a regular commercial property buyer you wont be interested in what ive just said, but if your new to property and your just starting out, you need sound advice so you dont end up property less and wishing you never done it.
You can get us on 01225667747 or visit our website at www.businessratehelp.co.uk all our advice is free or we can take over your entire business rate account for a one off fee which is lower than you think !