The supply of new housing has, for many years, been woefully short of the government requirements. This has resulted in a housing shortage throughout most parts of the UK.
The Government have been allowing commercial buildings to be converted to residential. As a result, many owners of commercial buildings have taken advantage of this opportunity and sold/ converted them into residential properties.
In addition, there are pressures on Local Authorities to increase the new build starts in their areas, so land previously ignored for residential property development is often being considered as suitable. The Brownfield sites, which once had a commercial use, are an example of this.
Builders and developers are increasing the number of new build starts and government initiatives such as ‘Help to Buy’ have encouraged buyers, particularly first-time entrants, onto the property ladder.
Petermans have been involved in a number of sales and acquisitions for buildings and land for property development; some with and some without planning consent. We have a number of purchasers who are looking to buy.
Recent purchases include:
35,000 sq.ft. office building where the purchasers are submitting a planning application for a new development.
15,000 sq.ft. former school, acquired for a new retirement home scheme for 29 flats.
Advise on the sale of this large house, which was sold subject to planning for 8 flats.
Site of approx. 0.5 acres formerly occupied by a Conservative Club, now subject to a planning application for a residential scheme, purchased unconditionally.
If you’re interested in buying in Herne Hill, West Dulwich, or Edgware, do have a browse through our website for further information.