Are any of the live/work units for sale?
No. All live/work space is for rent.
Why are the rent levels so low?
All the Live/Work schemes have been part funded by the government so that affordable accommodation can be made available to support business start up and growth.
Do I need an established business/social enterprise to apply?
No, but you will need to demonstrate that you are in the process of staring up a business in a relevant industry and will be expected to register as a business/ sole trader within 6 months of taking up the tenancy.
Applications are assessed for affordability and for applicants we understand that this may mean that they are employed in part time work for a period of the three year tenancy. It is expected however that applicants will spend a minimum of 70% of their time undertaking their business at the unit.
For businesses that have been registered for a few years, applicants should not demonstrate an operating profit exceeding £50,000 annually, nor should the applicant have a personal source of income, either from paid employment or net income from an existing business, or any other source of income, which is in excess of £25,000p.a.
How long can I live and work there for?
All tenancies will be issued for 3 years. The Live/Work schemes have been funded to encourage business growth by offering affordable accommodation and therefore we need to limit the tenancy length. Guidance will be provided to tenants to help them identify suitable move on accommodation following the three years.
Is the accommodation furnished?
Apartments are unfurnished. Tenants will be expected to provide their own white goods as well as window coverings. Please note all gas cookers should be fitted by an appropriately qualified engineer.