At what point does a commercial property become residential? 2


immobilier

This blog relates to sale/purchase transactions, its common for developers to get planning consent before purchasing.

Just getting planning consent doesn’t trigger a change, its the use at the effective date of the transaction that overrides any past or intended future uses for the property.

The Rules are in

http://www.legislation.gov.uk/ukpga/2003/14/section/116

Meaning of “residential property”

(1)In this Part “residential property” means—

(a)a building that is used or suitable for use as a dwelling, or is in the process of being constructed or adapted for such use

http://www.legislation.gov.uk/ukpga/1994/23/schedule/8/part/II/chapter/5/paragraph/2

a building designed as a dwelling or number of dwellings or intended for use solely for a relevant residential purpose

https://www.gov.uk/hmrc-internal-manuals/stamp-duty-land-tax-manual/sdltm20076

In most cases, there will be no difficulty in establishing whether or not a property is residential property.

Use at the effective date of the transaction overrides any past or intended future uses for this purpose.

steve@bicknells.net

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