Convert Offices to Residential
Not that many people outwith the property investment market are aware that the government has in recent years relaxed planning rules for this type of conversion. It's now possible to buy a commercial property and turn it into a residential letting opportunity - without the previous headache of having to achieve planning permission for such a venture.
The legislative change was in response to the number of empty office blocks and retail premises in city centres/towns as a result of companies going out of business during the recession.Â Coupled to this was the high demand for homes (and which, of course, still exists today).
A practically risk-free and guaranteed strategy since the internal physical structure is in place â€“ such an investment is simply a case of the build team redesigning the property for its new use as an apartment or family home.