Live Work Units / Studios
Conveyancing Solicitors with a vast knowledge and experience of Live Work Units in London and Nationwide
- Reasonable and Affordable Fixed Fees
- Discounted Fees for First Time Buyers
- Knowledge and experience of Live-Work Unit Leases
What is a Live-Work Unit?
A live-work unit is an old concept that has been modernised to meet the needs of entrepreneurs, small businesses and professionals.
A live-work unit is a space that combines a workspace with a home residence. Modern live-work units range from minimalist to luxurious, have advantages and disadvantages, and present challenges for some city regulators.
Types of Live-Work Units
Usually the business is on street level and faces the street. The most traditional arrangement places the living quarters above the business but living space can also be alongside the commercial space or behind it.
An artist’s loft may simply be a bedroom over his/her studio. On the other hand, a live-work unit can be a three-storey or four-story townhouse with commercial space on the first floor and a residence on the remaining floors.
Most High Street mortgage lenders are happy to lend on live-work units. This is on the basis that the ratio of commercial use and residential use is within their criteria and that the commercial aspect of the property is used in a certain way.
Advantages of Live-Work Units
- There is no commute;
- You can have a healthy lunch at home every day; and
- There are tax advantages which are easier to show to HMRC rather than if you were just working from home.
Workaholics may never leave the office until 4am!