The Decrease in Office to Residential Conversions

6th March 2017

Very positive to see that Planning Magazine have reported on a decreasing number of office to residential conversions, despite the permitted development rights policy making the process simpler for developers.

Shell Centre buildings in London - England

Shell Centre buildings in London – England

We have been vocal critics of the policy as we see valuable workspace in Camden Town converted in to lucrative residential flats that offer little benefit to the surrounding area. Camden Collective lost its space in Carlow House to the policy, and the loss of creative businesses became a concerning trend.

Colliers International released a statement to Planning that “depressed residential values and marked shortages of offices in some core locations” was “convincing investors and developers to reverse permitted development rights on an increasing number of potential conversions”.

Read the full article here.

Useful Links:

Sadiq Khan calls for protection against PDR – via Camdentownunlimited.com

Softening housing market slows London office conversions – via Financial Times.