Commercial property - Industrial property

This is property for a business, rather than residential property, which is property that people live in.

Often this type of property is rented, as a business may not want to own permanent property, as it may only want to stay in a specific location for short time. As a business may relocate or a business may still be uncertain of it's success, to purchase a permanent base. For companies in the UK, a key property decision is whether to rent premises (leasehold) or buy premises (freehold).

It is common that companies seeking to purchase Commercial or Industrial property can often compete for the same locations and property as residential property purchaser.

Often a small house can be converted into a business property.

A property may have dual use as a shop or a office, downstairs, with a flat above.

Some properties may have more than one company or business in them. Often old inner city houses have been converted to house numerous businesses, with 2 or 3 on each floor.

Yet commercial properties are often "built for purpose" in designs that would be unsuitable to live in. For instance many modern factories warehouses, units, workshops, are often unsuitable for residential space. With a design that seems temporary. Yet in some areas of London and inner city industrial areas old warehouses and factories have been converted into yuppie or luxury apartments. Some find the open spaces set aside on each floor as attractive for a open apartment. It does seem the older factories and warehouses are more suitable to be converted than modern industrial warehouse units. Some old warehouses and have the appearance of an old university building. It is difficult to see the constructed blocks in most of todays ready built industrial estates being converted in the future to residential property. This is not meant as a criticism as the blocks were to cheap to attract business.

Often property for recreation uses is difficult to be converted to residential uses. You could hardly imagine a swimming pool, or a modern leisure centre, being converted into living accommodation. And it is difficult to see a football stadium being turned into a commercial flat. Yet is its common for an old house or stately home to be converted for a health spa, or a fitness' centre.

It doesn't only happen in the city.

Often an old mill, or barn in rural areas can be converted in to a home.

While often an small old farm house may be converted into a stable, or storage area

Specific locations

Science parks
There are around 100 science parks in the UK. To support the start up and development of knowledge based businesses and most have formal links with universities, institutes and research organizations.

Industrial Estate

These tend to be temporary blocks constructed on the outskirt of a city to attract new businesses to the area. An industrial park (or industrial estate in British English) is an area of land set aside for industrial development. Industrial parks are usually located close to transport facilities, especially where more than one transport modalities coincide: highways, railroads, airports, and navigable rivers. A more lightweight version is the office park, which has offices and light industry, rather than heavy industry.Industrial parks have also been criticized because of their frequent remoteness of urban areas, one of the characteristics that has been touted as a benefit. Yet if the do not work, they can often result in vast areas of industrial parks that sit idle and unsuited to other uses.

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