Features

Is it the end of the PDR gold rush?

By 2019-03-01T00:00:00

Office-to-resi PDR gold rush

Property Week asks what has caused the rapid decline in prior approval applications for office-to-residential conversions – and whether there are still opportunities for investors.

That is what some property pundits believe, and the data appears to back up their assumption. Figures from the Ministry of Housing, Communities and Local Government (MHCLG) show a rapid decline in prior approval applications for permitted development from 2014 to September 2018.

So what has happened to cause the numbers to plunge so sharply? Is there any appetite left for office-to-resi conversions – or does the balance need to be redressed towards offices?

The PDR regime was introduced by the government in May 2013 in a bid to address the escalating housing crisis and cut through planning red tape. Historically, submitting a planning application for the conversion of commercial property to residential had been time consuming and costly.

This content is only available to registered users

You must be logged in to continue

Gated access promo

Would you like to read more?

Register for free to finish this article.

Sign up now for the following benefits:

  • Four FREE articles of your choice per month
  • Breaking news, comment and analysis from industry experts as it happens
  • Choose from our portfolio of email newsletters

To access this article REGISTER NOW

Would you like print copies, app and digital replica access too? SUBSCRIBE for as little as £5 per week.

Registered users and subscribers SIGN IN here to continue