15:36 PM, 15th March 2021, About 6 months ago 3
I’m looking to buy a commercial property for my wife’s business in our local town, and I’ve found a property in the town centre which is ideal.
The commercial property is listed as freehold, however, there’s a flat above the shop which already has a leasehold in place, with someone else according to the seller. He has also informed me that the person with the leasehold apparently pays annual ground rent, along with 1/3 of the buildings insurance.
Does anyone know how this works?
Does it sound legitimate?
Would I be responsible for the whole building?
Any comments would be greatly appreciated.
I am new to this, and I’m just looking for an investment for the future.
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