Splitting Title Of Shop & Flat

[H3303]

Hi all. First post here.

I am in the process of trying to sell my business on a freehold basis, the shop downstairs and a flat upstairs. I have a seller who has made an offer based on me splitting the freehold of the shop and the flat, they only want to purchase the business and the shop itself and don’t want the flat.

is this possible to do please? If it can be done is it a complex and potentially costly process or a fairly straight forward one please? For info, there is no mortgage owed on the building, I own it outright.

Not sure if to post in the property or business sections. Any input welcomed before I take paid for advice.

Thanks all.

[des8]

Regardless of the process for splitting the title do be aware that selling the flat with a flying freehold may be problematic.
The value of the property will probably be affected, and it will be more difficult for the buyer to obtain a mortgage if he needs one.

[H3303]

Regardless of the process for splitting the title do be aware that selling the flat with a flying freehold may be problematic.
The value of the property will probably be affected, and it will be more difficult for the buyer to obtain a mortgage if he needs one.

Thanks for the info, this is something for me to certainly take into account.