Does your commercial property have hidden potential?
A little-known change in the national planning regulations could mean your commercial property has new and highly lucrative development potential.
On 1st October this last year, a new class of permitted development (PD) rights came into place to enable the conversion of light industrial units (Use Class B1c) to residential use (Use Class 3).
At Knightsbridge Estate Agents we are Members of the national Land & New Homes Network, and we recognise this as an opportunity for many commercial property owners to benefit from the changes to the regulations.
This form of permitted development will benefit existing light industrial units, which are generally considered as small-medium sized businesses which can operate successfully in residential areas without being a detriment to the neighbouring area.
Examples of these types of business include small workshops, repair workshops and similar non- intensive enterprises.
As a commercial property owner, you may wish to take advantage of exploring the value of your building within the framework of the new Permitted Development Rights and that’s something we at Knightsbridge Estate Agents can certainly help you with.
Kevin Ellis, Founder of the Land & New Homes Network, highlighted the opportunities
“The recent regulation change offers owners of these light industry units an opportunity to explore the residential potential of their building, which for many would not have previously been possible.”
Things to consider
The new PD rights won’t apply to all light industrial buildings.
Those located in certain protected areas or form part of a protected curtilage are unlikely to be eligible for residential conversion under Class PA.
Sites which are exempt include:
• The existing floor space of the building exceeds 500 square metres.
• The site forms part of a site of special scientific interest (SSSI)
• The site is occupied under an agricultural tenancy unless consent is given by both landlord and tenant.
• There are several other things which need considering which we would be delighted to discuss with you
Are External Alterations Required?
Permitted development rights only apply where no external alterations are required to the building.
If external alterations are required to enable the conversion, i.e. window positions, cladding etc, planning permission will be required for those works.
We have a team of expert consultants, with experience in all areas of development and planning regulations waiting to help you.
If you think you have a site that falls into this category and would like to explore the development potential, then please get in touch with me for an informal and confidential chat.
0116 274 5544 or 07917 899 495
Relevant letting fees and tenant protection information
As well as paying the rent, you may also be required to make the following permitted payments.
Before the tenancy starts (payable to Knightsbridge Estates 'the Agent')
Holding Deposit: 1 week’s rent
Deposit: 5 weeks’ rent
During the tenancy (payable to the Agent)
Payment of £50 if you want to change the tenancy agreement
Payment of £20 for the reasonably incurred costs for the loss of keys, plus the cost of any security device required such as garage fob, key fob, communal fob / security key. Payment of any unpaid rent or other reasonable costs associated with your early termination of the tenancy
During the tenancy (payable to the provider) if permitted and applicable
Utilities – gas, electricity, water
Communications – telephone and broadband
Installation of cable/satellite
Subscription to cable/satellite supplier
Other permitted payments
Any other permitted payments, not included above, under the relevant legislation including contractual damages.
Knightsbridge Professional Lettings is a member of Client Money Protect (CMP), which is a client money
protection scheme, and also a member of The Property Redress Scheme (PRS), which is a redress
scheme. You can find out more details on the agent’s website or by contacting the agent directly.
Please note that lettings agents are required by law to publish on their websites information for potential
tenants about relevant fees, redress schemes and client money protection schemes (including the names
of those schemes). Relevant fees must also be published on third party websites, such as Rightmove.
For properties to rent in England, details of the agent’s membership of any redress scheme and client
money protection scheme must also be published with their fees on Rightmove. It is the agent’s
responsibility to ensure that all relevant information is provided to Rightmove and is up to date and
accurate. If the relevant information does not appear here, the agent may have included it within the