My property consists of a long strip of land on which sits a bungalow with a large garden and a further area on which sits commercial properties. The bungalow and plot take up two thirds of the area and I have a prospective for the bungalow and plot of land. From a previous thread I am aware that I need to sell the plot of land prior to selling the bungalow. The prospective purchaser and myself had agreed that she would have first option to buy the final third when I eventually decide to sell. At the moment I am still running a business from one of the three buildings on the site. I have since had it pointed out to me that should I sell two thirds of the land (which will not incur capital gains tax), I will risk having to pay CGT on the final third when I sell in due course. The final third has a small hairdressing shop on it, a saddlery and a workshop (which I have for personal use). I assume the first two would be classed as commercial properties, but don't think this would make any difference to the capital gains situation.
Any advice you can offer would be greatly appreciated as I do not want to make a costly mistake.
Thank you in advance
DC
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