If you’re buying an investment property and in particular it is in the commercial field, you will need to know about use classes associated. Use classes are set by the government indicate the business activities you’re permitted to carry out with commercial properties. Every investment commercial property in the UK is put under a use class category.
It is normally simple to pinpoint the use classes for other commercial property categories we have. However, investment property in particular are unlike other sectors due to the wide diversity of the market. So this means depending on the market you’re planning to invest in, different use classes will be applicable to the investment property you buy.
For instance, if you’re planning to invest in a drinking establishment for the purpose of the selling and consumption of alcohol, the use class required would be A4. On the other hand, you may be looking into investing in a medical property to expand your portfolios, in that case, you would need the class A2, which is categorised as financial and professional services.
Investment Property Advantages and Disadvantages