A Commercial Property to Residential Conversion, in simple terms, is transforming a commercial property – this is usually an office or workshop area – into a residential property, whether it’s a block of flats, an HMO or a single dwelling. A commercial to residential conversion is not easy – but can have a great return on investment for developers. One of the benefits that make this investment strategy appealing is that the price of the commercial property is generally lower than that of residential properties. This is due to the saturation of the commercial property market.
Another factor that keeps commercial property prices lower than residential ones, is that commercial properties are often left vacant for long periods of times. As a result, the owner is often likely to sell the property quickly, and at a more affordable price, to eradicate their ongoing maintenance costs.
Yes – but you may need planning permission. Push on without it and you’ll be in planning breach, which could land you in legal and financial hot water. In some cases, commercial property for sale already has planning permission granted.
We provide planning applications for change of use here at Detailed Planning and can take care of the whole planning application process for you, from start to finish.
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