Newsletter | June 2015 - How to profit from planning permission
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HOW TO PROFIT FROM PLANNING PERMISSION
Increase property value by up to 50 % in just 6 months !
Planning permission can increase the value of your property by up to 50%. Don’t believe us? These case studies illustrate just how much you can earn by securing planning permission on your site and then sell at a premium.
CASE 1 : CAR REPAIR GARAGE - NORTH LONDON
CASE 2 : FOUR BED FAMILY DWELLING – BLOOMSBURY
DAP secured a valuable planning permission for a mixed use development consisting of 8 residential units and 2 office units at ground floor level.
The approved scheme involves demolition of the car repair garage premises to build an attractive and comprehensive residentially led scheme.
The preliminary concept designs for residential development were supported in principle during pre-planning consultations with the local authority. However, due to the constraints of the site arising from its proximity to the surrounding residential properties, the local authority’s requirements were particularly onerous on this application.
Following a lengthy consultation and negotiation process, and meticulous plan revisions we were successful in delivering the best possible scheme for this site providing much needed high quality accommodation and employment space.
The client has recently sold the site with planning permission for £1.3 million, a 45% increase in value.
DAP were initially instructed to obtain planning permission and Listed Building Consent for extensions and major internal renovation work.
Several weeks into the project, the client unexpectedly decided to sell this property as he was presented with a rare opportunity to acquire a substantial family dwelling in a prime London area.
DAP strategically advised the client to seek planning permission for conversion to multiple self-contained dwellings prior to selling the property to increase its value and command a higher sale price.
Having been given the go ahead, our brief then became to identify the configuration of units that would add the most the value to the property. Following extensive research and several concept schemes, it was concluded that a combination of 2 x 2 bedroom flats together with a single one bedroom flat was achievable in planning terms and would yield a significant uplift in value for our client.
The client agreed a sale to a local property developer conditional on planning permission for £4,150,000. In this case, the client achieved a net increase of 27% in the value of his property.
CASE 3 : FOUR STOREY OFFICE (B1) BUILDING
CASE 4 : RETAIL SHOP (A1) AND RESIDENTIAL (C3) UPPERS
The client, a private asset management company instructed us to seek prior approval to convert a four storey 1960’s office building to residential under office (B1) to residential (C3) permitted development.
The scheme takes advantage of what are arguably the most significant new permitted development rights introduced in May 2013 for a temporary period of three years.
Under the new procedure we were able to achieve an incredible 19 x 1 bedroom flats which would have otherwise been impossible under the ordinary procedure. Office buildings are seen to provide an important employment function (even though this one was mostly vacant) and are protected by planning policy. Conversion to residential is generally very difficult to achieve, and those that are approved must conform to the onerous space standards of the London Plan.
Our client capitalised on this unique relaxation in the planning regime to obtain residential use for the property and in doing so realised an immediate 44% surge in its value. The property as a residential development attracted considerable interest and we understand a sale has now been agreed in the region of £3,600,000.
This unmodernised end of terrace retail (A1) shop with residential upper parts was purchased with view to extend and develop as much as possible to create additional residential units.
DAP successfully secured planning permission for extensions to this property at first and second floor level to create 3 self-contained flats comprising 2 x 2 bedroom and 1 x 1 bedroom flats.
The client was unable to carry out the building works after the grant of planning permission. We understand the property was recently sold at public auction for £1,200,000.
If you own a property and would like free confidential advice on whether it is suitable for redevelopment please contact us on 0208 202 3665 or at email@example.com
25-27 The Burroughs, Hendon, London, NW4 4AR
P: 020 8202 3665
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