Altering a commercial property – such as offices, shops or warehouses – into residential property can be a useful strategy for savvy investors. Here, our Residential Conveyancing and Commercial Conveyancing Solicitors offer guidance on some of the essential factors you should consider.
The simple answer is ‘yes’. However, before you can do so, it is likely you will need planning permission. If you begin the process of converting your commercial property without getting approval, you could be in breach of planning regulations. This can have significant legal and financial implications.
Planning permission is authorisation from the government to carry out building work on land or property. Getting permission to undertake this work will often depend on certain conditions set out by your Local Planning Authority (LPA). You will usually have to apply for planning permission if you intend to:
You will need to apply to the LPA department of your local council. It is crucial to engage with your LPA early in the process as each LPA operates differently, so getting advice at the outset can save time and money later in the process.
It is worth noting that planning permission will not always be needed. Changes made to the planning rules in 2013 mean that you can convert some types of commercial properties without the need for full planning permission.
If you would like more advice on buying commercial property for residential conversion, call Wilford Smith’s on 0808 168 5813 or complete our online enquiry form.