New House for commercial use

AdrianC

no_one said:

waoo didn't expect all of these steps. So the obvious answer is no.

No, the obvious answer is "Maybe, it depends".

Look for the right place, there's no problem.
Find the wrong place, there's a problem.

But it all depends on scale... Home oven? No problem. Commercial kit with extractors etc? Big problem.

thearchitect

Indeed.  A  micro business within the owner's place of residence may not trigger a CoU for planning whereas a two or three man business with ovens, delivery vehicles, and so on quite clearly hits the trigger.  And such a trigger may not be problematic in some locatations, but deeply challenging elsewhere.

FreeBear

no_one said: I mean using pension pot now while I am still at early 40's. I read that one can use it to buy commercial property hence the original question. 

Even if your pension provider would allow such a venture, you really do need to take independent financial advice before raiding the pension pot. There may be tax implications now, and severe financial disadvantages when you finally get to collect on the pension.

Owain_Moneysaver

Assuming you are talking about a scale where you do need a commercial kitchen (domestic kitchen won't be allowed by Environmental Health for anything other than "occasional" use) -- Possibly. You may find a bakery/cafe with flat above, or house with workshop space behind. Look on Rightmove Commercial but also the commercial property and business websites. If you know the area you need to be in, circularise the local surveyors who handle commercial property sales.

no_one

Owain_Moneysaver said:

Assuming you are talking about a scale where you do need a commercial kitchen (domestic kitchen won't be allowed by Environmental Health for anything other than "occasional" use) -- Possibly. You may find a bakery/cafe with flat above, or house with workshop space behind. Look on Rightmove Commercial but also the commercial property and business websites. If you know the area you need to be in, circularise the local surveyors who handle commercial property sales.

Well don't have the plans for the full-time business, it's something small like participate in the local food festivals and use the home kitchen occasionally for that 

davidmcn

no_one said:

Owain_Moneysaver said:

Assuming you are talking about a scale where you do need a commercial kitchen (domestic kitchen won't be allowed by Environmental Health for anything other than "occasional" use) -- Possibly. You may find a bakery/cafe with flat above, or house with workshop space behind. Look on Rightmove Commercial but also the commercial property and business websites. If you know the area you need to be in, circularise the local surveyors who handle commercial property sales.

Well don't have the plans for the full-time business, it's something small like participate in the local food festivals and use the home kitchen occasionally for that 

That's hardly going to turn your house into a commercial property, is it?

elsien

So you want a property that's commercial enough to be able to raid the pension pot, but not commercial enough to trigger covenants, planning permission for running a business from home?
If you'll excuse the phrase, that's having your cake and eating it.

bucksbloke

no_one said:

ciderboy2009 said:

If by "new house" you mean a new build house then it's highly unlikely to be possible as there will probably be a covanent against running a business from the property.
As for using the pension as the deposit - if you mean a lump sum you get when you take the pension then you can do what you like with that money.  If however you mean a future pension which you can't currently claim then no.

ah good to know about such covenant will keep an eye on it.
I mean using pension pot now while I am still at early 40's. I read that one can use it to buy commercial property hence the original question. 

You will not be able to use your pension pot as deposit for your property. Some SIPPs allow you to buy commercial property - but their are really strict rules about residential properties. You could pay a penalty of up to 55% tax if HMRC deem it to be residence. Which as you are stating you are going to live in. This is a non starter.