Empty commercial property benefits?

lincroft1710

knightstyle wrote: »

There are a couple of shops I know of with two stories above that have been empty for over 12 years, No for sale or to let signs and the upper windows are starting to rot badly.
So do the owners still pay business rates etc? Is it a tax relief scam or perhaps money laundering?

If the lease includes the upper floors then the rating assessment will reflect the whole premises. With shops the price per sq m is highest for the shop part, in larger shops the price decreases in stages as you work back ("zoning"). Upper floors are assessed at a fraction of the ground floor, so costs of the empty floors are proportionately minimal.

cloo

There used to be some, if not benefits, at least some help with empty shops with business rates relief, but that has been cut back. The fact is, I'm not sure why anyone would want to open a shop in a local high street these days, it's nigh on impossible to make any money as an independent local shop. People use chain shops/supermarkets for essentials, online or shops in malls/town centres for clothes and gifts and they're just not around during the daytime when these shops tend to be open, certainly in big city suburbs. I often think local shops in commuter areas would do better to be open 12-8 every day, with maybe a day off during the week and then open on Sundays, unlike the current usual opening of 10-5 Monday to Saturday.

jamesperrett

square_bear wrote: »

Often with a To Let sign or no sign at all. Not many showing 'For sale'.

You may see a sign saying 'All Enquiries' - this often means that the landlord would consider selling the lease.