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The End of Leasehold Flats? A Breakdown of the Draft Commonhold and Leasehold Bill
Úna Campbell
The media has recently been awash with stories of contravertial super-basement conversions - we either love them (if we're the home-owner) or we hate them (if we're the neighbours) and there is little room for commentary in the middle. As they continue to make the headlines, we republish one of our most well-read blogs from last year, which offers an unbiased view on the pros and cons of extending property square footage by digging down.
Permitted development rights (PDR) introduced by central government in May 2013 allow a change of use of an existing B1(a) office building to C3, dwelling houses, without the necessity of obtaining planning permission.
As a property advisor in the midst of a London property market bursting with redevelopment potential and a shortage of residential stock for both investors and occupiers alike, a noticeable trend has arisen in the firm’s work, as more and more of our clients are seeking to take advantage of the opportunities to redevelop existing buildings, whether these buildings are vacant or have tenants in situ.
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