Commercial to Residential Example

We used a couple of strategies on this project with our joint venture partners. Before
purchasing we title split the property to increase the value for the bridge, meaning less
money needed to purchase. We applied for planning (as it was in a conservation area we
couldn’t use permitted development rights) to turn this from a care home (Class C2) to 3
residential properties (Class C3). We then did a soft refurbishment on all 3 properties
maximising the value. We have rented this out to the council on a 5 year agreement, with
them looking after the void periods and maintenance.