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Permitted Development Rights - Demolition of existing offices to build resi a good call

Tuesday, 22 November 2016

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Permitted Development Rights - Demolition of existing offices to build resi a good call

Ahead of the Autumn Statement tomorrow, GVA hopes for and would welcome the proposal to allow existing office buildings to be replaced with new residential.

Carl Potter, Senior Director and Head of Offices at GVA comments: “There was a suggestion at the Tory Party conference that this could be extended to allow existing office buildings to be demolished and replaced with new residential.

"We would welcome this proposal and urge Government to follow through. In some markets this has created significant benefits and allowed the re-use of redundant office stock, increasing value and viability of new development, and the market has balanced out where and when this is appropriate and where it is not the best viability solution. We do have to recognise in some areas where residential values are significantly in excess of office values it has created an imbalance and this is accounted for in Government policy which allows exclusion zones. But expanding the policy in this simple way would be of enormous benefit.”

Read more GVA Autumn wishlist comments: