Whether you want to take a more sustainable approach to housing development, do your bit for the high street, add value or get creative with interesting industrial spaces, now is a good time to consider converting property from commercial to residential. Here’s why:
1. A shift in demand
With many businesses embracing homeworking since the pandemic, what were once thriving offices are now empty spaces. There is significantly reduced demand for commercial premises, while the demand for housing is high, and far from being met.
Office and warehouse buildings are often spacious and ideal for development into unique new homes with valuable sale or rental potential.
2. A sustainable approach
Never has the need to minimise the environmental impact of new homes been so urgent. Vacant commercial properties are brownfield sites. Converting them, as opposed to building on untouched greenfield land, has huge benefits for the environment. Investing in brownfield development projects reduces the need for greenfield development, helps protect wildlife and reduces energy emissions.
Housing development doesn’t have to involve acres of greenfield land being lost to hundreds of identical homes. Small-scale projects to unlock potential and repurpose commercial properties are an opportunity for a far more considered, creative and sustainable approach to property development.
3. Help revive the high street
The high street has been under threat for some time. Already a casualty of out-of-town supermarkets and internet shopping, it was hit even harder by the Covid-19 pandemic, when many local shops and businesses were forced to close.
Converting empty high street commercial properties into residential homes is a way to bring people back into town and city centres and promote the regeneration of local communities and economies. People living in central parts of towns and cities create a greater need for local amenities such as cafes, bars, shops and cinemas, which reinvigorate and restore life to our high streets.
4. Prime location
From office space to retail property,many commercial buildings are in central locations close to restaurants, parks, schools and public transport links. This puts them in popular, prime locations for people who want to live in the heart of towns and cities, with everything they need on their doorstep.
5. Add value
Prices of commercial properties are often more competitive compared to those of residential properties in the same area. Because they’re in a prime location, converting them to residential homes means they have profit-potential and provide an opportunity to add value.
6. The process is now quicker and cheaper
In 2021 the government made amendments to the permitted development rights provided for by the General Permitted Developments Order (GPDO). That included buildings within Use Class E (commercial, business and service) to be converted into homes, without the need for express planning permission.
If you want to convert commercial property to residential homes, you now just go through a prior approval process, and can expect a quicker decision and fewer costs, meaning you can put your efforts into creating high-quality homes that people will want to live in.
7. A creative build
Converting a commercial property can be a chance to be creative and make the most of original features, or a blank canvas with the freedom to adapt the space to a unique design. Some of the most stunning, imaginative homes are born from commercial conversions because, when designed with thought and ingenuity, these desirable buildings have unique charm and personality.
If you’re interested in converting property from commercial to residential, we can help you take the next steps. At Landhaven, we pride ourselves on designing beautiful, high-quality, ethical homes that respect the environment and get you the best returns on suitable spaces.
If you’re ready to unlock the potential of your commercial property, talk to us.