Can Commercial Property be Inhabited Legally?

Most individuals probably have yet to consider living in a business building. However, it could appear to be a desirable, more inexpensive choice because residential rents and sales are often out of reach for many individuals.

Because they frequently have spacious, open areas that may be moulded into nearly any shape or size, commercial buildings can have an alluring appearance. Many also have unusual design elements and a lot of natural light. Suppose you are looking for Commercial property for sale in a particular town or area. In that case, you can contact professional estate agents, as many commercial and office premises are currently vacant due to the pandemic.

There are many different types of commercial property, including:

• Office buildings: These are buildings that are used for business operations, such as administrative offices, customer service centers, and research and development facilities.
• Retail spaces: These are spaces that are used for the sale of goods and services, such as stores, malls, and shopping centers.
• Warehouses: These are buildings that are used for storage and distribution of goods, such as storage facilities and distribution centers.
• Industrial properties: These are properties that are used for manufacturing, production, and other industrial activities, such as factories and industrial parks.
• Mixed-use properties: These are properties that combine multiple types of commercial uses, such as office buildings with retail spaces or residential units.

Is it possible to live in a vacant commercial building?

Regrettably, you cannot just choose to relocate to a property with business status. This is mainly because the necessary construction insurance does not protect persons living there for commercial properties. Moving into a commercial property without commercial insurance is against the law, and if you are caught, you might face penalties.

What if you wish to reside in a commercial building?

Living in a forsaken place can be feasible if you’ve seen one you like. You must apply to convert the building from commercial to residential use. If you want to do this, think about the sort of building you are looking for; for example, you may need help getting the insurance company to modify the status of a serviced office located inside a big block. You could have a better chance if it’s a modest shop space that has already been occupied and is located in a neighbourhood.

How can I convert a commercial space into a residence?

To turn your area into adequate housing, you need the local council’s approval for the conversion. The council’s local planning authority (LPA) will then decide whether to accept or reject your application. A land assessment may also help you determine the exact worth of any adjacent business properties.

How much does it cost to submit a change-of-use application?

The cost to apply to alter the use of property varies, but in some places, like London, it may exceed £500. If there have been other comparable successful petitions in the region, your LPA is more likely to grant you approval. However, this is not the only expense; you will also probably have to pay an architect to create the ideas, and if they are accepted, you will also have to pay for the conversion.

How likely is it that the application will be accepted?

You may look at prior records and even conduct a road-specific search on your council’s website. The more closely you adhere to a commercial to residential application that has been successful in your street or neighbourhood, the better your chances will be.

Can you enter a commercial property using permitted development rights?

In rare circumstances, you can turn a business property into a residence without getting planning approval. A few commercial building types can be transformed without authorisation, since they have Permitted Development Rights (PDR) status. Light industrial properties, some office buildings, and retail properties are among several assets that could have a PDR in place. The overall floor area frequently should be at most 150 square metres.

Even though you won’t require planning approval, you might still need to follow some regulations while converting a PDR structure. It is necessary to restrict the number of windows in your design, and the privacy of nearby buildings must also be considered. If you are uncertain, it is always better to talk with your local council and planning department. They frequently advise on the kinds of designs and modifications most likely to be accepted, saving you time and money.

Is it a good idea to live in a commercial building?

The answer to this question is based on the particular structure of the issue and your intended outcome. In conclusion, renting a business property is probably not as inexpensive as it initially appears. The conversion could cost more.

However, turning a unique structure into a home might be a fantastic option for people seeking a more unconventional lifestyle and a more distinctive location. If you’re considering turning a business facility into a different use, research, talk to as many people as possible, and then decide.

Conclusion

If you are considering purchasing or leasing commercial property, it is important to carefully research the property and the local market to ensure that it meets your needs and is a good investment. You should also seek the advice of a real estate professional or attorney to help you navigate the process and protect your interests.