Buying Commercial Property For Personal Use

The purchase or sale of a commercial property can seem a daunting proposition, but at Blackstone Solicitors, we have the experience and know-how to make the process as stress-free and time-efficient as possible. We understand such transactions can appear complex, which is why our commercial conveyancing solicitors are here to guide you through the process. If you are looking to buy a commercial property for personal use, there are a number of factors you need to consider before proceeding. In this article, buying commercial property for personal use, we take look at the points to consider and the process involved.

Free Initial Telephone Discussion

For a free initial discussion on how we can advise you on the viability of using a commercial property for personal use, get in touch with us today. We will review your situation and discuss the options open to you in a clear and approachable manner. Early expert legal assistance can help avoid the stress of dealing with these issues on your own. Simply call us on 0345 901 0445 or complete our online enquiry form and a member of the team will get back to you.

Do I Need To Instruct A Solicitor?

Laws relating to the buying and selling of commercial property can be particularly complex. As a result, the process of transferring the title of the property from one person to another can be quite lengthy and legal advice should be sought.

However, we are here to make the experience as hassle-free as possible for our clients and we will keep you constantly updated on everything as we go. Various important, and quite complex tasks must be carried out as part of the conveyancing process, including planning permission applications and lease agreements, so it is important you have the right legal assistance to guide you through.

There are many issues involved in the commercial conveyancing process, and examples of some of those we can help with include:

• Using commercial property for residential use
• Commercial mortgages
• Buying or selling business premises
• Re-mortgaging business premises
• Planning and development
• Lease transfers

Mistakes made during commercial property conveyancing may potentially affect you financially and following the correct checks and due diligence is of paramount importance.

Can I Live in a commercial property?

There are a number of things to consider before buying a commercial property to live in. If the property has not already been officially given residential status, the building’s insurance will not cover residential occupants.

This is a legal liability and therefore the building’s status must be changed – you can’t just buy the property, renovate it and move in, as you would with an existing residential house or flat.

If the building is registered as a commercial property, you may need to obtain planning permission before converting it into a residential space. This is definitely something to check before buying, as sometimes commercial property for sale already has planning permission for conversion to residential. In order to obtain planning permission, you will need to apply to your council’s local planning authority (LPA).

If you haven’t received planning permission before you begin any work on the building, you may face a penalty for a planning breach.

Permitted Development Rights

Planning permission isn’t always needed if you intend on converting a commercial property into residential. Due to the Permitted Development Rights Statute (2013), the following may not need planning permission to change use:

• Offices
• Properties designed to carry out light industrial processes, such as factories, workshops and warehouses
• Shops and other properties where the size of the premises is no larger than 150 square metres

As there are geographic restrictions in certain parts of the country, it is essential to make sure you know exactly what the law stipulates with regard to your property before beginning renovations.

You should also ensure that you seek prior approval from your local council before completing any major works, even if you positively determine that no planning permission is necessary.

Prior approval for renovation may come with conditions specific to a former commercial property, such as a limited time frame within which to complete all the building works. This depends on the type of commercial property you are converting.

How We Can Help

Our team is well versed in dealing with all the various aspects of commercial conveyancing, and we are here to help in any way we can. For instance, our experts can help you get the best outcome if:

• You want to change a commercial property to residential use.
• You want to enter into a commercial mortgage
• You wish to transfer interests in a commercial property
• You want to draw up a lease agreement
• We are able to explain clearly the legal issues and provide open, honest and professional advice.

How to Contact our Commercial Property Solicitors

To speak to our Commercial Property solicitors today, simply call us on 0161 929 0121, or allow a member of the team to get back to you by filling in our online contact form. We are well known across the country and can assist wherever you are based. We also have offices based in Cheshire and London.

Authored by Ben Posted in Commercial Property, News Tagged as