Consider maintaining a listed property

Only a listed property has benefits, according to one property expert.

Simon French, from independent property consultants Lane Fox, says that the satisfaction of owning a unique building is enough for many buyers although there are many other benefits to be had.

There is a potential tax break for the maintenance of such a building plus the possible profit which owners can make once they sell it.

He said: "From my own personal point of view, I would take one on because you are not likely to get a building like that anywhere else. And youre buying it for the character."

He added that there is "kudos" for those who own a listed building, but you have to take on board that in doing so, you are opening up a lot of different issues.

There may be complications in that you have to pay a lot for the upkeep of the property, with only some of this work being exempted from VAT.

There are some 370,000 protected buildings in the UK, according to English Heritage.


© Adfero Ltd