Selling a shop and freehold

[davidc1]

Hi.
Looking for wee bit of advice if i may.

My brother and i own a shop and the freehold to a building on a high st in south london.
We used to own the flat above the shop but sold it 10 years ago.
Anyway. We now want to sell the shop and freehold.

The owner of the flat approached us a few years ago wanting to build into our loft. They had gone to the extent of showing us architect plans for this. However he did not want to pay us for the loft space so it didnt happen.
We have a good relationship with the guy who owns the flat.
The shop is rented and we get 8000pa .8 years left on the lease.

Obviously the shop and the freehold is worth the most to the chap who owns the flat. He can then control the entire building and build in the loft.

The building is a bit tired . Will need a new roof in the next 10 years so not keen on having to repair or have a leak into his flat...

I need to get it valued but anything i should note at this stage or any tips?

Not sold a building like this before.

Thanks for reading.

David.

[megaphone]

The value of the freehold will be governed by the potential rental income, is the current rent £8K/a reasonable? Can it be increased?

Any ground rent from the flat?

Check then flat lease, the leaseholder may well be liable for part cost of the roof repair.