Great news for property investors & developers!

Brandon Lewis,  Minister of State for Housing and Planning

Brandon Lewis, 
Minister of State for Housing and Planning

The Government has announced that it will make 'permitted development' permanent. Originally permitted development rights were due to expire in May 2016.

Permitted development rights have enabled offices to be converted to new homes without having to apply for planning permission.

In addition the Housing and Planning Minister Brandon Lewis today announced the government will expand the scheme to a allow offices to be demolished, not just converted, and extended to light industrial and launderettes for new homes.

The move will provide thousands of new homes, and make the best use of existing buildings including some that are underused and neglected – while at the same time protecting the green belt.

It is estimated that since they were first announced in 2013 over 4,000 conversions were given the go-ahead.

In addition those who already have permission will have three years in which to complete the change of use – ending potential uncertainty for developers and enabling the development of much needed homes.

Those areas that are currently exempt from the office to residential permitted development rights will have until May 2019 to make an Article 4 direction if they wish to continue determining planning applications for the change of use.

For clients who are property investors and developers this is creates a lot of new opportunities which Signature Tax can help with both in sourcing the deals, arranging the finance and working with our partners to structure the deals.

For further information contact Signature Tax on info@signaturetax.co.uk or 020 3815 707