Buying commercial property to live in

[jasn78]

Hey guys just wondering if anyone here has done this or looked into it? Basically I am thinking instead of buying a studio/1 bedroom apartment in Brisbane which is bugger all room and where I would want to live costs nearly 300k, I am thinking just buying a industrial office like a mechanic's one and converting the mezzanine area into a loft style apartment.

So questions for the legal beavers/real estate guys out there. Is this legal and what costs would be involved compared to a normal unit?

[dylan8]

First thing to check would be your local planning zones/rules

[roccodingo]

Hey guys just wondering if anyone here has done this or looked into it? Basically I am thinking instead of buying a studio/1 bedroom apartment in Brisbane which is bugger all room and where I would want to live costs nearly 300k, I am thinking just buying a industrial office like a mechanic's one and converting the mezzanine area into a loft style apartment.

So questions for the legal beavers/real estate guys out there. Is this legal and what costs would be involved compared to a normal unit?

Love your thinking as I looked at this back in 2004, Commercial property is usually zoned Industrial, or retail. Unsure if there are any other zone definitions for workshop units.

The block of units where my building is located is zoned "industrial" and by building by law code ( which comes from the state & federal govt) it makes dwelling in the unit illegal, with fines for the owner of up to $50K at $5K per day.

How do I know this ?? we have a tennanted unit where the occupant has been using the workshop to live ( dwell ) which included bed and bedding, food prep area etc. It wasnt an issue for any other owners/tennants bar one who dobbed him in to the council.

The issue which came to hand is that it invalidateds the insurance on ALL of the buildings from what we have been informed from the insurer. They placed on the owner and tennant of the unit an insurance excess of $100K for any insurance claim.

The council duly checked with the occupant and had him remove his property which made the place a "dwelling" and returned it to "industrial use "

A lot of this is down to definitions government uses to define the usage types. I am still researching this so would like to hear if you come up with any other definitions .

Only possible variance you can try to look for is to find a place that has a resident caretakers accomodation, However I think that applies to more industrial "land" as opposed to units. Also note that in some instances business' have to pay land tax ! The other yard where I store parts costs the leasee $68K per year in just land tax + all the other outgoings..

Looking at UN agenda 21 I believe in the future that we will end up only leasing the land from the government ( or whatever was once the "crown" )

Good luck !

[jasn78]

Thanks for that guys, it just sucks what council will butt into when it isn't hurting anyone. Surely they have more on their plate then worrying about who lives where Anyhow might check this out some more with a solicitor I know but looks doubtful.

Did I mention I hate the public sector? loll

[dylan8]

various reasons for it.
While planning/council can be painful at times, its all there for a reason...

[Tim]

You can normally download a zoning guideline document from your local councils website.
In the area my factory is its actually legal to live there as a caretaker in an industrial zone. The zoning of my property is business though which means that you need a permit to allow caretaker residency.

I do have a friend who lives in his industrial zoned factory. Its not a glamorous lifestyle but very cost effective

If it is something you were interested in persuing you would be best served by finding something that has most of the facilities you need. Certain types of internal modifications may require building permits which can get expensive.

[Ideo]

You can normally download a zoning guideline document from your local councils website.
In the area my factory is its actually legal to live there as a caretaker in an industrial zone. The zoning of my property is business though which means that you need a permit to allow caretaker residency.

I do have a friend who lives in his industrial zoned factory. Its not a glamorous lifestyle but very cost effective

If it is something you were interested in persuing you would be best served by finding something that has most of the facilities you need. Certain types of internal modifications may require building permits which can get expensive.

This is largely what I was going to say.

I'm a planner and have done a few industrial developments with an ancillary caretaker living quarters component. However, councils are quite stringent, and the costs associated with providing these to the required level are a bit challenging. Especially regarding fire safety.

Keep in mind that if it is a commercial space and the ancillary component is deemed as caretaker accomodation, it will need to be an adaptable unit under the changes to the disability code, so you will have significant expense there as well (accessible toilet etc etc).