Jump to content
House Price Crash Forum
Sign in to follow this  
Travisher

An End To Rent Rises In Sight?

Recommended Posts

In Peterborough and as I understand it elsewhere in the country a large percentage of town centre office space is being converted to flats. The owners no longer need permission to make this change. Local agent says about 10% of the commercial property used to be empty at any one time. Now about 10% is being converted to residential. If some of the conversions I've seen so far are indicative of the quality of living in a redundant office, then we are about to see a massive flood of flats coming on the market. As I suspect, they will be hard to shift, hard to maintain and far more expensive than the owners envisaged when they jumped on this gravy train.

If you can cope with living in these conditions where waste handling will be inadequate and old lifts will break under the extra load, you may well get a good deal since they will be desperate to get some return on the expense of conversion.

Share this post


Link to post
Share on other sites

Can't see any drops in rent just yet despite an increase in this type of let.

A former office block in central Norwich has just been converted to 1 bedroom and studio flats.Local Letting Agent Abbot Fox seem to feel they're justified in charging top money for them: £700 pcm for a 1 bed and £625 for a studio (furnished).

http://www.rightmove.co.uk/property-to-rent/property-60628547.html

When I last went past the block it looked unoccupied. The builders done a decent job by the look of it.

If you can cope with living in these conditions where waste handling will be inadequate and old lifts will break under the extra load, you may well get a good deal since they will be desperate to get some return on the expense of conversion.

I would hope that the services would have been made better and the old lifts replaced during the refurb. :unsure:

Share this post


Link to post
Share on other sites

I would hope that the services would have been made better and the old lifts replaced during the refurb. :unsure:

Haha not a chance. I talk to the lift maintenance man round here. Too expensive, LLs are converting cos they are running out of money holding on to empty offices.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • Next General Election   91 members have voted

    1. 1. When do you predict the next general election will be held?


      • 2019
      • 2020
      • 2021
      • 2022

    Please sign in or register to vote in this poll. View topic


×

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.