Permitted developments on office-to-residential set to stay

In a move that has pleased Development Specialist Richard Carr, Planning and Housing minister Brandon Lewis last week announced that the temporary office-to-residential permitted development (PD) right will be made permanent.

Rip down and start again

Richard Carr Office to Commercial

Temporary rights are set to be made permanent on permitted developments

On top of making the temporary right permanent, Minister Lewis also said that the move would allow for unused office buildings to be pulled down and replaced with residential buildings.

The temporary decision was due to lapse at the end of May 2016.

Also, for developers who applied for a change of use during the temporary period, Lewis confirmed that they will three years in which to complete the change of use. In addition to the new PD rights, developers will be allowed to change the use of light industrial buildings and launderettes to new homes.

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Commercial office space experiences rental growth

Property development specialist Richard Carr was delighted to read the latest reports which indicate rental growth in commercial office property.

High demand

Richard Carr talks about commerical office rents

Commercial office rents are rising

Like in the residential property market, demand is high for prime rental office space in the UK’s main regional cities. Growth across such markets have experience an average increase of 4.3% in the year to June 2015.

Property consultants JLL’s data reflects a solid outlook for the next 12 months for demand and tight supply of new space.

“Sustained levels of occupier demand combined with the decreasing availability of Grade A office supply has contributed to healthy rental growth with year on year increases witnessed in all bar one of the core eight cities,” said Jeremy Richards, dead of national office agency at JLL.

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Demand for commercial developments reaches peak

Fortitudo Property Development Specialist Richard Carr today looks at the rising rents that are putting the office property market under threat.

Commercial Property in demand

Richard Carr Office Space image

An example of industrial office space

According to the latest Royal Institution of Chartered Surveyors (RICS) Commercial Market Survey, the demand for commercial property across the UK now stands at its highest in over 17 years.

Since the turn of the year there has been a rise in demand for office space, however availability has fallen, meaning that a rise in rents is likely.

Where are businesses to turn to next? Nick Harrop of Hitchcock Wright & Partners believes that business bosses may turn to industrial space.

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Should there be a crackdown on office-to-residential conversions?

Westminster Council’s deputy leader Robert Davis last week reaffirmed the authority’s stance to crackdown on office-to-residential conversions, reports Richard Carr.

Westminster losing its character

Whilst addressing the industry Belgrave and Turley roundtable, Davis expressed his view that the dynamic within Westminster had swung too far towards residential development.

Richard Carr Westminster

Is Westminster becoming too residential centric?

Propertyweek.com reported that Davis said: “Westminster is home to the most significant office and commercial centre in the country.

“It is not acceptable for us to lose this nationally and internationally important cluster at the rate we have been experiencing to residential spaces, which fundamentally changes the character of the area.”

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New development measures are stimulating the housing market

In Richard Carr’s latest blog, he reviews the latest official statistics that indicate property developers are taking advantage of new measures that enables redundant office buildings to be turned into new homes under ‘permitted development’.

Communities transformed following new permitted development measures

Richard Carr works as a commercial and residential property consultant for Jacob Carr Homes Ltd. He is a specialist in achieving planning permission for developers and high net worth clients and has a successful track record in maximising profits for his clients and employer.

In his opinion, the new regulations will transform communities across the UK and turn run-down areas of towns and cities into desirable living accommodation. He believes it will stimulate new office building as there is very little redundant office space left.

Developers and home owners taking advantage

Statistics from the UK Statistics Authority show encouraging signs with regard to the amount of applications being placed to transform office space into homes. In the last quarter 1,900 applications were received by English councils with 900 approved in the same period.

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