Shops.

I'm looking at buying a shop with a flat over it.

Can anyone explain what this means about the lease?

I want to rent flat out but have the shop.

This is the write up.

Much improved and reroofed 2 storey premises comprising main road shop with security shuttering, approx. 450 sq.ft. plus refurbished 2 bedroomed self-contained flat with main road entrance. Large main lounge, fitted kitchen with hob and oven, modern bathroom, gas ch., uPVC d.glazing. Flat currently let at �260 per calendar month with gross annual rent of �3,120. Shop currently let on a 3 year Lease from Sept. 2011 at �2,000 per annum. Excellent investment opportunity. Viewing: By appointment

 

as long as its not in sunderland mate five more opened this year lol

 

It sounds like the 3 year lease is up in Sept..I take it the current price isn't what the new lease is??

The flat rental sounds cheap and the shop sounds cheap..

What's the business rates on the place??

 

Not got a clue Wes. Going to ring them tomorrow. Just don't understand the lease thing. Its £65k which is a good price and the rent off the flat will help.

 

https://www.gov.uk/apply-for-business-rate-relief/small-business-rate-relief

 

Bloody hell, where can you get a flat for 260 a month?

 

you buying it freehold?
I take it the flat is rented and lived in.
The shop is being used by someone and their lease runs out in September this year.
As long as there is no clause to say they can re- lease it, you can give them notice and use the shop for yourself and let the flat out to its current tenant, maybe with a rent increase if they haven't had one for 3 years..

 

It's sold. Wnakers !!!!