Can I buy a commercial property without a business?

Answer

Buying a commercial property without having a business would suggest that it is being bought for personal use. This is possible but comes with several considerations. 

Converting a commercial property for residential purposes typically requires planning permission, which can be a time-consuming process. It's crucial to consult with an experienced commercial property solicitor to navigate these legal requirements effectively. 

Additionally, properties used for personal purposes are treated differently for tax purposes, potentially impacting capital gains tax obligations. However, certain professions may require staying overnight at the workplace, allowing for the purchase and conversion of the property for personal use. Mixed-use properties, such as those with both commercial and residential components, offer flexibility in terms of conversion options but require careful consideration to ensure compliance with personal use regulations.