Office to residential conversion in Hertfordshire

CWG Bespoke Ltd have been commissioned on this Office To Residential Conversion in Hertfordshire. Work is underway to convert the former gymnasium and swimming pool into high-end apartments. The Gym, beauty rooms and Swimming Pool stood proudly at one end of Potters Bar High Street. It was a very popular gym for many years and is close to Potters Bar Railway Station. Meaning these apartments will be in high demand.

CWG Bespoke Ltd is currently stripping out the building, ready for connecting all services for the new apartments. We are also working on the buildings aesthetics and safety by re-cladding the complete building. We are also looking to put in a state of the art Security CCTV System.

“This is a high-quality development that respects the heritage of the surrounding buildings and the historic location within Potters Bar.

Most Projects we work on similar to this are converted under PDR. If you are not familiar with PD) then we will help explain it for you. Permitted Development Rights (PDR) in the UK allow for certain types of ‘change of use’ to be carried out without applying for full planning permission. Within office and retail classification these include; • B1(a) Offices to C3 Dwellinghouses (subject to prior approval) • B1(c) Light Industrial to C3 Dwellinghouses (subject to prior approval up to 500m2) • A1 Shops to C3 Dwellinghouses (subject to prior approval up to 150m2) • A2 Professional/Financial Services to C3 Dwellinghouses (subject to prior approval up to 150m2) • As of August 1st 2020 - The potential to demolish office buildings to build residential units (Subject to limitations and prior approval) Source: Planning Portal - https://www.planningportal.co.uk info/200130/ common_projects/9/change_of_use/2

So as a Landlord or Property Investor the obvious question is; could I see more of a return from converting my office space to residential units rather than maintaining it as a leased office? Or should I purchase an office to convert for profit?

CWG Bespoke Ltd has converted many office blocks into residential units and seen an increase in enquiries over the last 24 months and expect this to continue to rise. This has led to large scale projects being undertaken over the same period that will provide housing created from office space in areas of high demand across the country.