Commercial property turn into residential with no planning permission needed.

MrEnglish

The budget is said to show plans to change the rules about converting commercial property into residential without any planning consent needed.

Some towns have old boarded up commercial properties very cheap because no one wants them as commercial. It costs a lot and very difficult at the moment to get permission to turn them into residential flats. If its now going to be straightforward then TIME TO SNAP UP COMMERCIAL PROPERTY AT AUCTION FOR A SNIP.

I can see millions more residential properties all over the UK coming on the market in the near future.

Oh well its somewhere to put all those on low incomes who will be forced to leave London when the 500wk ben cap comes into force.

Hamish and his sockies wont like it!

PasturesNew

It would still need to be desirable/useful though. Random shop wedged between a pub and a kebab shop even at £10k isn't a great place to live.

MrEnglish

PasturesNew wrote: »

It would still need to be desirable/useful though. Random shop wedged between a pub and a kebab shop even at £10k isn't a great place to live.

But think of the yield.

With housing benefit about to be reduced 10 of these £10k flats rented out even at the new lower rate would be worth it. BTL may have some life left yet.

The knock on effect will be lower rents and house prices all over the country of course.

MrEnglish

Now commercial property can be bought very cheap and easy to convert into residential with no permission needed.

Say hello to millions of new properties flooding the residential market

Say goodbye to high house prices and rents all over the country :j

CLAPTON

well, I'm sure the small print will say somthing more restricted.

MrEnglish

On the BBC just now they said plans will add another 250K residential properties to supply.

Where does this come from? I can see millions of unused commercial places being made into multiple bedsits.

Milla_2

These changes in the budget next week could have profound implications.

For instance its relatively easy to buy a bit of land in the country very cheap because there is very little chance of getting planning permission to build residential property there.

But to get permission for commercial is relatively easy. For instance if you are using the land as a small holding growing things and the like you can get permission for a storage house or office even with kitchen or bathroom.

I know someone who did this and this office work place was built to look just like a bungalow.

So now with these changes would it be easy enough to change status from commercial and be allowed to live there?

Davesnave

PasturesNew wrote: »

It would still need to be desirable/useful though. Random shop wedged between a pub and a kebab shop even at £10k isn't a great place to live.

Shops aren't included, and there are likely to be other exclusions, so it might be prudent for some people on here to wait for the detail.

Sounds interesting though.

MrEnglish

Davesnave wrote: »

Shops aren't included, and there are likely to be other exclusions, so it might be prudent for some people on here to wait for the detail.

Sounds interesting though.

Any link where do you get that from shops not included?

Davesnave

MrEnglish wrote: »

Any link where do you get that from shops not included?

Nowhere obscure. BBC Front Page:
19 March 2011
Property planning rules to soften

By Joe Lynam Business correspondent, BBC News
More new homes should be created as a result of the new rules
The Government is set to announce measures in the Budget to make it easier for companies in England to convert commercial property into private dwellings.

The BBC has learned that soon planning permission would no longer be required by developers.
The government says this should result in up to 250,000 additional houses or flats being created.
The plan would require changes to existing legislation.
The new rules could be in place before the end of the year.
They would not apply to shops

Generali

You can wave goodbye to many more village pubs if those can be converted under these rules.