In the past 10 years more than 4 million sq ft of office space located throughout different areas of London has been turned into amazing homes. Now there is 1.8 million sq ft that is available to turn into homes.
Re-using old buildings is something that London has always been the leader in. Commercial space is not really that desirable anymore, mainly due to a weak economy. This is not necessarily bad news because new builders are able to seize the opportunity to buy commercial space and then turn them into private homes. Private homes in the heart of London are always in very high demand.
People who want to buy buildings for redevelopment will find that they have many unique choices to choose from due to the fact that there are many pubs and breweries that have closed down. Because of the fall in church-going, People will also be able to purchase old chapels, churches and even stable blocks as well as working men's clubs.
Along with the austerity package from government comes with the disposal of public property which includes police stations, barracks and even many different hospitals. People will also be surprised to know that even public toilets are included in this list. When it comes to commercial property in London, anything that is able to be converted will get converted. People can still make a great profit from conversions just as long as the raw material is still there.
Many residential homes were created from office space but there is now 1.8 million sq ft of office space that has yet to be converted. This office space just needs the planning consent and then they can be converted to homes.
When it comes to prestige homes in London, the prices are still soaring, which makes conversions attractive regardless of money. It will run around lb6,000 a sq ft for designer homes that are located in areas such as Chelsea, Mayfair and Kensington.
Traditional neighbourhoods are not as popular as business districts when it comes to conversions. Since many conversions are in business districts they tend to be very close to public transportation and many amenities. Commercial districts can become residential areas very quickly. One popular area that is transforming is the West End section.
Commuters who walk to work love city-fringe addresses. Number 75 is located in Aldgate and the property was built back in 1904. The building was used as the headquarters for Co-operative Whole Society as well as the Royal Bank of Scotland. The listed building has a very unique clock tower that is a quarter of the size of Beg Ben and also has a very impressive lobby and stair-case. Around 42 homes have been done up inside the building and there is also underground parking.
Re-using old buildings is something that London has always been the leader in. Commercial space is not really that desirable anymore, mainly due to a weak economy. This is not necessarily bad news because new builders are able to seize the opportunity to buy commercial space and then turn them into private homes. Private homes in the heart of London are always in very high demand.
People who want to buy buildings for redevelopment will find that they have many unique choices to choose from due to the fact that there are many pubs and breweries that have closed down. Because of the fall in church-going, People will also be able to purchase old chapels, churches and even stable blocks as well as working men's clubs.
Along with the austerity package from government comes with the disposal of public property which includes police stations, barracks and even many different hospitals. People will also be surprised to know that even public toilets are included in this list. When it comes to commercial property in London, anything that is able to be converted will get converted. People can still make a great profit from conversions just as long as the raw material is still there.
Many residential homes were created from office space but there is now 1.8 million sq ft of office space that has yet to be converted. This office space just needs the planning consent and then they can be converted to homes.
When it comes to prestige homes in London, the prices are still soaring, which makes conversions attractive regardless of money. It will run around lb6,000 a sq ft for designer homes that are located in areas such as Chelsea, Mayfair and Kensington.
Traditional neighbourhoods are not as popular as business districts when it comes to conversions. Since many conversions are in business districts they tend to be very close to public transportation and many amenities. Commercial districts can become residential areas very quickly. One popular area that is transforming is the West End section.
Commuters who walk to work love city-fringe addresses. Number 75 is located in Aldgate and the property was built back in 1904. The building was used as the headquarters for Co-operative Whole Society as well as the Royal Bank of Scotland. The listed building has a very unique clock tower that is a quarter of the size of Beg Ben and also has a very impressive lobby and stair-case. Around 42 homes have been done up inside the building and there is also underground parking.
About the Author:
If you need further info regarding office space to buy in London, or are interested in galleries to buy in London simply go to our website at www.ldg.co.uk where we have our latest listings.
No comments:
Post a Comment