Commercial property is in high demand across the UK as a whole, but it may surprise you to know that many people are not investing in commercial property to rent it out from a business perspective, or even to expand the premises of an existing company, but are instead electing to pursue commercial property investments for a very different reason; namely to convert such property into residential facilities.
One of the advantages of turning unused office or warehouse space into a home is that it allows the homeowner to relocate to a building that is much closer to a busy urban centre. As a specialist provider of investment property in London, we have sometimes dealt with customers who are looking to take advantage of commercial property in this respect, and it is undoubtedly happening elsewhere in the UK as well; perhaps even more regularly, in fact.
Less than a month ago, an article on South West Business related how residents of Gloucester were increasingly choosing to convert commercial property – especially office space – into residential homes, and, although this impetus may owe something to new changes to permitted development rights, the real reason behind this growth is thought to be renewed confidence in the property market. However, such a practice is not without its challenges, as the conversion of commercial property isn’t always easy.
Commercial property isn’t generally laid out in the same manner as a home in terms of plumbing, windows or even the placement of walls, and these obstacles can be tricky to navigate in and of themselves. Furthermore, wide open spaces and excessively high ceilings are common in commercial properties, so whilst they can undoubtedly make striking homes the effort to renovate such premises is often significant. Clearly though, this effort is increasingly being judged as worthwhile.
At Prideview Properties, we have a large portfolio of commercial property in London and other areas around the UK, and each and every one of our opportunities represents an exceptional chance to invest in some commercial property. Whether you are looking for a commercial premise for more ‘traditional’ purposes, or are aiming to join in with the recent trend for residential conversions, we can find the ideal solution to meet whatever requirements you have in mind.
To find out more, please don’t hesitate to contact us now by calling +44 (0) 208 863 8680 or sending us an email at email@example.com. Our options for commercial property are constantly changing, so feel free to get in touch to discuss our latest news.