What costs should I budget for when buying a commercial property?

In addition to the purchase price, investors should allow for:

• 7% Stamp duty / transfer taxes
• Legal and professional fees (solicitor, surveyor, valuation)
• Finance costs (lender fees, arrangement charges, interest)
• VAT (where applicable)
• Due diligence costs (building survey, environmental reports, planning checks)

Ongoing costs may also include property management fees, insurance, repairs and local rates.