UK Business Information / Freehold Purchase
A freehold purchase allows you to own your property outright and have complete control within and outside the property subject of course to statutory law over any elements relating to the building at the time of purchase. The only external cost then levied on the building are the local government / municipal business rates. Aside of the actual cost of the building related costs would be as follows:
Government stamp duty - 4% of purchase price
Your lawyer - 5% approx of purchase price
Your agent (should you retain) - 1-2% of purchase price (dependent on size / brief)
Professional fees (valuation/ survey/environmentals) - Completely dependent on size of premises and scope of work but say .25% to .50% of purchase price
Commercial Property information is supplied by Ereira Mendoza. Established in 1990, Ereira Mendoza has grown in size, stature and reputation to become one of the most respected full-service property practices in the market. Headed up by David Ereira and Daniel Mendoza, the company is fuelled by insatiable energy: a 24/7 commitment to thinking beyond the ordinary. Getting the right results for clients – not just a quick fix - is what drives the team’s work ethic.
