Apartment complex with shop at the front

[Tsea]

I am wondering if this is ever an additional risk as compared to a normal apartment complex. I am looking at an apartment complex which has 12 apartments in it, at the front of the complex is a small single story bookshop. The contract isnt available yet but from my understanding the shop at the front is treated like another apartment in the complex, just probably paying more strata fees?
As this apartment is right at the back of the complex noise issues are not an issue.
Are there any other things to be wary of?

 

[travelbug]

I looked at one that had shops on the ground floor with apartments above. building insurance and therefore Strata was considerable higher.

Not sure if it's the case for all but worthwhile checking.

 

[kristaje]

Tsea, thanks for bringing this up. I'll be interested to know about this too, as one of our IP in Sydney CBD has a bicycle shop located at the ground floor of the building.

 

[Tony3008]

Our complex has 450 flats and 20? shop units. The developer set things up with two Owners Corporations, one for the flats (interior foyer and passages, lift maintenance etc etc) and one for the complex - all owners, residential and retail, are members of the second. Sounds OK but there are some items of expenditure that are for the benefit of the shops only (e.g. cleaning and maintenance of toilets and spaces shared by retailers only) and as there's no retail-only OC, us residential owners pay 80% of such them. But the amount involved is minimal in proportion to the total.