Make The Most Of Permitted Developments Rights
In the last few years, a slew of regulatory changes has rocked the housing industry…
Changes in tax relief, stamp duty surcharges, and capital gains tax increases are just a few examples.
To continue to make money from property investing, you have to be able to navigate well in this situation.
Converting a commercial space into a residential space is one of the most recent options, now that there have been regulatory changes.
🎯 Permitted Development Rights (PDR) allow certain types of commercial properties to be changed to residential use with less (but not nil) red tape and more assurance about the outcome in advance.
🎯 The conversion of the upper floors to residential while preserving the business property downstairs is a popular option among landlords and investors looking to diversify their portfolio.
🎯 Lenders are now more confident in approving this type of project for funding.
🎯 Because of the increase in commercial conversions and its expansion as a strategy, the price of these units is likely to rise as well.
🎯 This is because PDR can be easily altered in the future, so in a few years, these chances may not be as easy.
