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Recent reports in the South East of the country highlight a sharp increase in unsightly office blocks being transformed into half-hearted housing solutions.
The government’s relaxed planning regulations has prompted an upsurge in disused office conversions through Permitted Development Rights (PDR) across our London and South East offices, but thankfully the situation in Nottingham is much brighter.

Now home to the city’s flagship Bioscience centre, the city is at the forefront of the Midlands Engine, creating 700 new jobs for the region. Nottingham is benefiting from significant investment in its economy, but could this mean a sharp increase in office conversions in our city?

One of Nottingham’s most attractive features is affordability of land and property for development and space which means the range of residential properties on offer including high-end studio flats in the city-centre to terraced houses in the suburbs and an increasing number of new build developments, easily accessible to the city through our tram and bus system.

Whilst converted offices account for almost three quarters of the new housing supply in the South, our region benefits from more affordable housing, meaning that the space on offer for students, first-time buyers and professionals, whilst at a premium, is accessible in comparison.

The issue our colleagues are seeing in the South East is an increase of people moving into areas with converted office blocks, but not necessarily close to employment. Flats as small as 14 square metres are being marketed to young people who feel they don’t have a choice but to secure any space on the very bottom rung of the property ladder, at whatever price.

However, the Bruton Knowles Nottingham team doesn’t feel that the region will see this type of development. Many disused buildings have been demolished to make way for purpose-built student accommodation or residential apartments that offer a better standard of living to encourage people to stay in our city for the long-term. 

 

For help with all your property matters contact Sam Spencer on 0115 988 1160 or email This email address is being protected from spambots. You need JavaScript enabled to view it.