Live-Work

A new way to do business

The concept of live work space has taken off in recent years, with bespoke buildings combining residential and business uses within increasingly contemporary lifestyle solutions.

Maidstone was ranked among the 'top 20' UK home-based business hotspots in a recent survey commissioned by BT. Coupled with above average rates of self-employment and a high proportion of small businesses, Maidstone is an attractive market for developers of live work space.

So what are the advantages of Live Work space? Apart from the natural efficiencies associated with living and working in the same building, live work may also reduce the relative running costs of workspace through tax allowances on mortgage and utility payments.

Similarly, depending upon the configuration of live work space the application of council tax (levied on residential dwellings) and business rates (levied on business premises) will vary and could potentially represent an overall cost saving. Maidstone Borough Council’s valuation office can advise on the tax treatment of live work units, as well as any relief that may apply such as Small Business Rate Relief. 

Business Link offers a detailed guide to business rates and explains how to work out the rateable value of your property.

In planning terms a Live Work unit has a unique status (‘sui generis’) as a property ‘of its own type’ incorporating residential and commercial use. A live work property is one designed from the outset for dual residential and business use. It may be newly built or converted to create a professional workspace where one or more people can run a business. Further advice can be sought from Maidstone Borough Council’s  Planning Department.

Bristol Paintworks exemplar Live Work scheme