This is a golden era for small scale property developers.
Martin Gain is a chartered town planner . Kevin & Martin discuss the opportunities to be gained in property, including commercial to residential conversions and why recent changes in planning laws can now help you tremendously in your property journey.
#PlanningPermission #PropertyDevelopment #PropertyInvesting
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KEY TAKEAWAYS
In principle there should be no mystery around planning restrictions but in practice, there are methods that can be used to make planning to be more likely. And this is where Martin has always benefitted as he previously worked in and with a council.
Even if you manage to get something cheap, if you then can’t do what you want it is a waste of money. So Martin always advises to buy ‘subject to planning permission’ via an option agreement.
We are in a housing crisis, the government do not have too many options which is why many permitted development rights have been relaxed by this current government.
There have been some key changes recently that help small scale developers including ‘Class MA’ a permitted development right to convert town centre commercial premises into flats and residential dwellings without full planning permission.
You can make big money but working smart in higher value areas/locations. This why it shouldn’t always be a ‘race to the bottom’ in property.
If you already own property, there is likely to be hidden value you haven’t thought about. For example, it’s worth looking into the new changes in adding floors to existing properties – this could dramatically increase your investment value.
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