- Original Poster
- #1
Has anyone experience buying the freehold of their commercial property that they are currently leasing?
I've seen an industrial unit leasehold property for sale, 88 years lease left (from 125 yrs).
Offers around £250k
Its 3 industrial units: small, medium, large
I've bought in the past, but always freehold or virtual freehold (999 yr lease)
Ground Rent is currently £13k pa, but up for renewal, and the F/Holder is looking for £30k pa
Rental income (if fully let) circa £70k pa; currently only the small one is let for £15k; the medium one is under discussion for £20k; leaving the larger unit vacant.
Leaseholder is retiring landlord; Freeholder is big corp London asset manager.
This would be an investment property - not owner occupation.
Just thinking I'd rather own the freehold/control the whole deal.
I've seen an industrial unit leasehold property for sale, 88 years lease left (from 125 yrs).
Offers around £250k
Its 3 industrial units: small, medium, large
I've bought in the past, but always freehold or virtual freehold (999 yr lease)
Ground Rent is currently £13k pa, but up for renewal, and the F/Holder is looking for £30k pa
Rental income (if fully let) circa £70k pa; currently only the small one is let for £15k; the medium one is under discussion for £20k; leaving the larger unit vacant.
Leaseholder is retiring landlord; Freeholder is big corp London asset manager.
This would be an investment property - not owner occupation.
Just thinking I'd rather own the freehold/control the whole deal.
