Buying a shop can be the start of a successful business venture, whether it’s running an actual business from the shop or letting it out as an investment. But what you get depends on what you buy. Here are your options.
Leasehold versus freehold?
First, you need to decide whether you want to buy a leasehold or a freehold. In many cases, buying the leasehold means that you only buy a certain proportion of the building, and you will still have to pay a ground rent. Buying the freehold as well means that you can more easily profit from the business premises, and you don’t have to pay any extra. In some cases, leasehold is the only way you can go, especially when you are buying space in a major shopping area. Continue reading