Selling Flat Above Shop – We Buy Fast

Do you want to sell your flat above a shop? We are specialist buyers of flats that are difficult to sell. Here are the key features:

• We can complete the purchase fast.
• The type of commercial premises below does not matter. Even a chip shop or fried chicken shop is acceptable.
• If the freehold is a mixed-use, we can split your title and buy the residential property above the commercial properties below.
• The valuation and offer are based on the sale price of other residential properties in your area.
• If your leasehold flat has a short lease, this is not a problem.
• Joint venture projects involving extension and conversion to HMO are possible, subject to planning and other consents.
• No selling fees or estate agent fees to pay
• Sell and rent back available on some properties
• Ideal for people in the process of getting divorced
• If you are facing insolvency and are subject to CCJs, tax investigations or civil litigation, we can help
• Flats with high ground rent OK
• Secured loan arrears, mortgage arrears, and pending repossession enquiries are all welcome. Subject to terms, we can give you cash upfront to put your secured borrowing in good standing.

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Selling Flat Above Shop

Concise Finance is looking for development opportunities for residential flats and HMO projects.

Selling a Flat Above a Shop: Key Considerations

Selling flats above shops can be a unique experience due to their semi-commercial nature. These properties, often located above commercial buildings like convenience stores, require a specialised approach for buyers and sellers. If you own such a flat, several factors should be considered to maximise your property’s appeal and value.

Challenges with Semi-Commercial Properties

Because of their mixed-use aspect, semi-commercial properties may attract higher insurance premiums, especially if they are located above high-traffic businesses. However, these flats can also generate significant interest due to the potential rental income they offer. It’s important to note that buyers might require specialist advice to navigate the complexities of buying a commercial property.

Lease and Ownership

If the shop lease on the ground floor is lengthy and well-maintained, it can positively impact the resale value of the flat. However, if you are the freehold owner of the whole building, including the commercial and residential units, this could offer greater control over the property’s management. Flat owners should also be aware of any service charges or maintenance costs, as they are typically shared with the business owner below.

Practical Considerations for Buyers

Buyers will likely be interested in practical benefits such as having their own parking space or access to a communal yard. Accessibility is another key selling point—if the property has good communal access, it will be more appealing to potential purchasers. The state of the building’s exterior, shared spaces, and the relationship with the shop owner below all contribute to the overall appeal of the flat.

Working with Estate Agents

Concise Finance try to avoid estate agents because of their costs.

Given the complexities of selling a flat above a shop, working with experienced estate agents who understand the nuances of semi-commercial properties is essential. They can help price the property appropriately, taking into account its mixed-use nature and the conditions of the surrounding commercial buildings.

When selling a flat in such a location, it’s important to highlight the pros and cons of living above a business. A well-maintained property with clear terms in the shop lease and manageable service charges can attract buyers looking for a unique property purchase, particularly those interested in the added benefit of rental income from the commercial space below.
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