We’ve been wanting to open a live/work space for ages, the challenge with focusing on leases of just a few years is we’ve never had the right building, of the right size, with the right permissions in which to make it happen. We can’t afford to buy in London, as it would require us to have a 20-30% deposit which in London means we’d be looking at close to £5-10m deposit in order to purchase a building of the size we’d like.
So we’ve found a building in Spain that tickets all the boxes
- Mixed use commercial + Apartment block
- Scope to extend / develop
- Roof top and outdoor garden
- Under 30 minutes from an airport
- Cheap airlines operate from the airport
- Return flights to London, Berlin and Paris under £150 total (most of the year c£50 each way)
- We’ve viewed the building and negotiated a price we believe is within budget
- We’d be able to charge from £250 per month for a room (bedroom with access to shared kitchen) and also include free fixed desk space in the coworking space.
- We’ve got a 20% deposit in the bank (happy for the mortgage to be in the company’s name or be personal, whatever is easiest for the lender)
- The building is under £390,000
- 15 minute walk to the beach
- Decent surf
- Sea views
- Amazing weather / climate
- It’s in a large enough urban area to get everything we’d need and want as a community
- There are some very significant other benefits for entrepreneurs, but if I mention them too early it’d give away the location of the property.