Outcomes from Chancellor Rishi Sunak’s statement The Chancellor, Rishi Sunak, announced the...
Commercial property purchase
We acted on the purchase of a commercial property which was converted into 14 residential flats, with a commercial unit on the ground floor. Our development team dealt with the plot site set up once the development had taken place, and from that dealt with both the commercial and residential leasehold sales.
Working closely with the developer throughout the process we offered support and guidance as and when they needed.
We have acted on a number of similar transactions for this client, of varying sizes, and have already been instructed to work with them on their next project. The General Permitted Development Rights (“GPDR”) currently allow for some commercial property, such as offices, to be converted into residential units, without the need to go through the full planning application process.
A number of our developer clients are taking advantage of GPDR, as a simple and fast alternative to developing residential property. Often, utilities connections and access are already in place.
Birkett Long have lots of experience in dealing with these types of transactions.