Published: 17/10/2023
Welcome to the world of Commercial Property with Whozoo.We’re the UK’s fastest growing commercial agency and we’re here to help explain the in’s and out’s of buying and selling commercial, investment and development properties in the UK.
First things first, understanding commercial properties and how they differ from residential ones can be quite valuable to a novice investor.
In this beginner's guide, we'll cover the basics of commercial properties, their distinctions from residential properties, the various types of commercial properties, and essential concepts like use classes and property ownership.
What is a Commercial Property?
A commercial property is a piece of real estate primarily used for business or income-generating purposes. Unlike residential properties, which are designed for people to live in, commercial properties are meant for commerce. This can include office spaces, retail stores, warehouses, industrial facilities, and more.
How is it different from Residential?
The main differences between commercial and residential properties include:- Purpose: Commercial properties are used for business or income generation, while residential properties are for living.
- Lease Terms: Commercial leases are typically longer and more complex than residential leases.
- Regulations: Commercial properties are subject to different planning uses
- Maintenance: Responsibility for maintenance and repairs may differ between commercial and residential leases.
