The two major costs are the rent (or licence fee) - typically payable quarterly in advance - and the rates (non-domestic rates). As a rule of thumb, you can expect rates to be something in the region of 40 per cent of the rental value of the property.
Other costs you should be aware of can include:
- A service charge (particularly where the premises are part of a larger property or include additional services) - see 5 below.
- Building and other insurances - see 6 below.
- General running costs - for example, any utilities you pay for directly, and the costs of any repairs and maintenance for which you are responsible.
