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Live/Work Rules

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Wednesday 10 October 2012 1.04pm
Hey,Guys

I have lived in a live work space for 14 Months now, and I am still over excited about the way I'm living. Live work spaces are ideal for people that need space for creative use or to run a small business. my unit is in a warehouse in hackney wick, London and I got it through an Agency called "Spaced Up" I highly recommend for people that think about moving into a live work space to check them out = www spacedup co uk they are very helpful and simple and they have loads of live work spaces and commercial units around London.
Saturday 20 October 2012 8.40am
Have you considered AstroTurf as a medium for artistic projects?
Friday 15 February 2013 10.31am
Hi,
I've followed these discussions and am a bit worried.

Can anyone help please.

I am looking at a warehouse conversion in SE16. the lease is for live/work, with 25% allocated to work space it seems. I dont intend to work from home.

my lender is telling me they approve on a case by case basis. I dont think it's an issue to find a lender.

but reading the thread above, I m more concerned about council tax, business rates, capital gains.

Do you pay the standard council tax?
can Southward council charge you business rates?
Are you liable for capital gains when you resell?

Again, I only intend to use this home as a 'home'.

Thanks.
Tuesday 26 March 2013 6.12pm
Cedric

Do you pay the standard council tax? - The agent should be able to tell you what the Council Tax band is for the property.

Can Southwark Council charge you business rates? - No, unless the 'work' element is separate from the 'live' element with its own entrance. Southwark Council do not 'value' property for either Council Tax or Business Rates. The valuation is done by the Valuation Office (part of the Inland Revenue) and the council only collect against that valuation. There is no mechanism for collecting a 'hybrid rate' ie part residential and part work as implied by live/work.

Are you liable for capital gains when you resell? - Only if the property isn't your primary residence. The live/work designation does not create two elements and the property is one property, residential in character. Live/Work was a fudge by councils trying to circumvent their own local policies which, in Southwark's case, was to oppose residential uses in previously industrial areas. Live/work was an effort to show that 'light industrial uses' were being retained but was residential by the back door. Sadly it caused a lot of problems, some of which are illustrated by this thread.

Live/work is residential use. Ask the Valuation Office.

Regards and best wishes.

Niall
Monday 12 August 2013 9.15am
I've just seen a Live/Work place on the canal in Bethnal Green thats being used by the current owners as residential only. Really like the place but my solicitor found out the freeholder want 30,000 to allow the change of use from L/W to residential.

So if you are thinking of getting the lease changed looked out for this.
Monday 28 October 2013 2.34am
Can you folks please provide me with some guidance. Im about to complete the ourchase of a l/w unit. The mortgage has been approved. Its a new build currently under construction. The property is free hold and I intend to live in it. Has anyone made a succesful planning application for change of use to purely residential? Can you please provide guidance as to how best to go about it?
Utterly grateful,
NewBuyer
Friday 16 May 2014 12.43pm
Hi NewBuyer, have you had any success converting your property to purely residential? We're in a similar situation (about to purchase a live/work property) and any advice would be helpful!
Saturday 17 May 2014 4.09pm
janeausten wrote:
Hi NewBuyer, have you had any success converting your property to purely residential? We're in a similar situation (about to purchase a live/work property) and any advice would be helpful!

No Ive just completed on the property and have made no progress so far. All my neighbors are using it as residential anyways. Kindly share ur experience if you get there before I do :)
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