Funding to buy building I occupy

Hi,
I have a relatively small retail business and I'm currently in a building on a 10 year lease of which 2 years have passed.
The building has come up for sale and its expected to sell for approximately 10 times my rent which I think is a pretty standard evaluation.
I want to buy the building but it looks like I'll need to have 35% of the price myself. Unfortunately I don't. To me its such a obvious purchase as I'll have paid that amount anyway by the time the lease ends. My business is young but is going well and has started to become profitable.

I have 10% available but does anyone have advice on how to get the the other 25%. The bank says that I cant borrow this from somewhere else but is that really an issue?

I have equity in my house but the mortgage holders wont release any if its not for home improvements etc.

I'm running out of ideas but I really want to make this happen, so any help would be greatly appreciated.

Have you the 10% funds with that Bank that have advised you that you cannot borrow the 25%. Would the 25% amount to a large amount. You could borrow from a friend and draw up a legal agreement with a repayment time table and an Interest rate. You could lodge that amount with your current Bank and go to another Bank and see would they be prepared to lend the 65% and at the same time telling them that you would move the 35% over to them if they were prepared to lend you the balance that you need.
It is something you need to be careful as you do not need to lose a good friend which could happen if anything were to go wrong. Remember in business you need access to capital to fund the business going forward. You need to do the figures as well. The borrowing rate will be close to 6% on which you will get tax relief. You also get full tax relief on the rent paid. You will most likely be hoping to get a P & 1 loan any any reduction in the principle will be taxed. If your business continues to grow will the premises be big enough in the future.
I can see where you are coming from but I do not see much benefit in cash flow terms in the medium term
You need to call to your accountant and get him to have a look at your figures. You will have about 5% of the buying price as purchase costs as well.
Having stated all of the above and having no figures to go on I would advise that it may be a bit early in your business to be purchasing a property. You might be better rewarded investing in your business for the moment.

It's a difficult one.

I agree with Dermot's general suggestion, that as a new business(?), you should focus on keeping cash available to fund the business. If your business outgrows the premises, it is relatively easy to move from a rented premises. It would be a lot more difficult to move from a property you own.

While you may not get the chance to buy this particular premises again, you may be able to buy another premises when you are better off financially.

If this premises is going to be your long term home, buying it may well make sense. If you buy it before the end of this year, you will be exempt from CGT if you hold it for 7 years, so that would argue for going ahead with it, if at all possible.

The only way I can see you doing it is if you sell your home and realise the positive equity in it and use that towards the deposit. When you build up cash again, you will be able to buy another home. I am not recommending this, just suggesting it as a way to achieve what you want to achieve.

If you know anyone who is interested in property investment, they might buy your home from you and rent it back to you, so it won't be too disruptive.

Come to think of it, if you know a property investor, they could buy your business premises with a view to selling them back to you when you can afford to buy them. However, most buyers of investment properties now, want to hold onto them for 7 years to avail of the CGT exemption.