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Business rates on Barn / Shed


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Hi All. Thinking of letting out a former dairy which measures 70' deep by 30' wide. No electric, water etc, just a plain concrete floor. Tenant wants it for timber storage / light sawing. 

 

Absolutely clueless. 

 

Any hint of business rates on this is a killer I think. 

 

Whatya reckon?

 

Thanks.

 

 

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You might get got for change of use, but should fall under small rate relief and effectively be free.

 

Roughly 21x9m = 189m2

189m2 x £55 = 10,395

10,395 x 0.499 multiplier = £5187

 

Under 12k valuation should be free.

Edited by GarethM
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7 hours ago, Whoppa Choppa said:

Hi All. Thinking of letting out a former dairy which measures 70' deep by 30' wide. No electric, water etc, just a plain concrete floor. Tenant wants it for timber storage / light sawing. 

 

Absolutely clueless. 

 

Any hint of business rates on this is a killer I think. 

 

Whatya reckon?

 

Thanks.

 

 

Regarding business rates, make sure your contract with the tenant states he or she is responsible for any business rates payable.  As GarethM  said it may well be nothing to pay, but pass this problem (if it is a problem) on to the person who will actually be using the space.

 

I would also recommend getting professional advice regarding commercial tenancies.  You should probably make sure it is a license to share the area with you rather than an actual lease.  Otherwise you may well find you have inadvertantly given the tenant security of tenure, and can never get rid of them.  

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4 minutes ago, Excels1or said:

My Mrs is a surveyor specialising in Business rates. You're apparently better calling the accessors they'll tell you if its currently got an RV on it and what its currently assessed at

Being an old disused agricultural dairy it probably never had rates. Ten years ago our mushroom sheds  were reused as commercial storage and the rate was 40% of the open market rent.

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  • 2 weeks later...
14 minutes ago, mikespoke said:

Turning a former dairy into a space for timber storage and light sawing presents an interesting opportunity, but it also comes with several considerations to keep in mind. Here's a breakdown of factors you should consider, including potential business rates, which could indeed be a significant factor depending on your location.

 

Are you a robot or computer?

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