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Commercial property turn into residential with no planning permission needed.
Comments
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Hope so, could really help things along without having to concrete over half the SE.
Be a pity if they all get bought up by BTL investors though.
Thats prob what will happen.
With housing ben getting reduced there will be many groty little bedsits rented out for the new lower rates.
But the good news is it will free up the nice places that these layabouts are getting their rent paid for now.
Its so stupid that these families with more kids than years in work are getting upto 3 or 4 grand per week to live in nice houses in the city.0 -
How come all the cuts but still these families are getting "3 or 4grand a week" to pay there rent?
The sooner they get moved out of London the sooner prices can come down to realistic levels.0 -
I wonder if ' commercial ' will stretch to farmers barns, milk !!!!!!s, let out to various businesses ?
Wonder how far the term commercial can stretch.:beer:0 -
It will not cost much at all. If already got water and wiring its cosmetic. Any unskilled person could convert the majority of commercial places into residential everything you need is in your local homebase.
The point is that more supply on the residential market will add even more downwards pressure on UK house prices.
there are loads of building regs, "lifetime homes" issues etc with houses / flats that don't apply to old commercial premises....much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.0 -
I have to say that in today's market you'd be a brave individual or company to buy a disused commercial building, plow your money in to it and turn it to flats. I'm sure developers in 2005/6 etc. would have bitten your hand off for that opportunity, but in 2011/12? Blimey, you'd better get your sums and market right.
Almost certainly worth it in parts of central London, though. Office space tends to be significantly cheaper than residential....much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.0 -
My first thought when learning about this was NDG. Lots of large houses around her way which are offices and lots of hoops to jump through to get them into residential status. When I last checked her area on RM I was noticing a tickup of commercial units coming up for sale... perhaps (guessing) having commercial tenants struggling or going elsewhere for lower rents.
I agree. And people want to live in either ex-houses-now-offices, or warehouse / factory conversions. Dead trendy....much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.0 -
Indeed. The main issue for Liverpool, unfortunately, is that it's a city which is far too big for the amount of people who live there. In the early part of the twentieth century when Liverpool was a very rich and important city I'm sure they had nearly a million people living there and all the buildings, houses and infrastructure to match. They had so much money they could afford to build and build and build.
Today the city only has around 400,000 people and therefore you have lots of empty residential buildings as the city simply doesn't 'need' the amount of people living there that it used to need. Sad really, but the shipping industry is never going to be what it was. I guess you could blame the Manchester Ship Canal and the invention of trains, planes and automobiles.
My parents, and 3 of my grandparents, were all born in and around Liverpool. My grandparents were part of the 19th century rural to urban shift - their parents were almost all born in country areas, Kent, Somerset, East Sussex, and Wales. They moved to Liverpool because it was booming and wealthy, lots of jobs.
It was still that way when my parents were young. My Dad says Liverpool almost turned off like a tap, he remembers it.
My parents both left, and so did their brothers. In fact, so did all my parents' first cousins, too. I don't have a single relative in Liverpool, now....much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.0 -
neverdespairgirl wrote: »Almost certainly worth it in parts of central London, though. Office space tends to be significantly cheaper than residential.
The problem is though it would be similar to buying land for residential development, by that I mean the cost of the land is a residual value based upon the potential use.
The developer estimates the gross development value, then takes off his costs, building costs, professional fees, profit expectation, finance costs and any project specific/miscellaneous costs leaving the residual cost (max bid) for the land. In this case it would be the max bid for the commercial premises in question. In other words the value would not depend upon the previous use of the building but the future potential use.Chuck Norris can kill two stones with one birdThe only time Chuck Norris was wrong was when he thought he had made a mistakeChuck Norris puts the "laughter" in "manslaughter".I've started running again, after several injuries had forced me to stop0 -
Running_Horse wrote: »Interesting the difference between here and America, where cities are allowed to expand and contract at their own natural rate:l
Yes, and you get horrific urban sprawl. Not a Good Thing, in my book....much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.0 -
Indeed. I reckon it won't make much of a difference.
TBH when buying my flat last year I would have not likely considered converted commercial premises. In fact I did see one that was converted and it was tiny.
In central London, converted commercial premises are very trendy indeed.
These are all 1 to 3 bed flats over £1million:
http://www.primelocation.com/uk-property-for-sale/details/id/HRCO8254316/
http://www.primelocation.com/uk-property-for-sale/details/id/STCKA224179/
http://www.primelocation.com/uk-property-for-sale/details/id/FGFY999000312/
this one is £3 million
http://www.primelocation.com/uk-property-for-sale/details/id/SPCE6913458/...much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.0
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