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Another successfull application by the DAP team !
We are delighted to tell our customers about a successful change of usage from office to residential. The question on all developers mind is whether prior approval for B1 - C3 will be extended.
In 2014 the Department for Communities and Local Government unveiled plans to make this temporary permitted development (PD) permanent. The temporary permitted development is due to expire on 30th May 2016.
DAP have being discussing prior approval with many colleagues and clients. The big question will be answered by the summer 2015. So far many London councils have removed these PD rights through article 4, a policy which allows rights to be removed locally.
Our estate agent partners have indicated that competition has risen drastically in the commercial B1 / office space market. Will it soon be too expensive for companies to operate out of offices? At DAP we can see a trend of large organizations moving to UK cities where rents and labour are lower, we can only see this trend continuing!
Eric Pickles has shown with recent large planning decisions that he means business. The economy is growing and specifically the real estate market is growing. Investors are now happy with 3% yield in London and 6% yield outside London. Will Eric still be in his seat after the elections? We predict an announcement about prior approval will be made following the elections in the UK |
