Big Changes Planned For Permitted Development Rights

What this episode covers

Rob talks about the big changes that are planned for permitted development rights and how they will impact the commercial property sector. This episode provides valuable insights into the potential changes in the commercial property sector and the opportunities they may bring. KEY TAKEAWAYS Proposed changes to permitted development rights in the commercial property sector could create new opportunities for acquiring land and converting buildings into residential units. Changes to Class MA could potentially double the floor space limit or remove it altogether, allowing for the conversion of larger buildings such as department stores. Hotels (currently classified as C1) may be able to be converted to residential (C3) under permitted development, potentially streamlining the process and removing the need for full planning permission. Limits on floor space for hot food takeaways, betting offices, amusement arcades, and casinos (Class N) may be increased or removed, providing more flexibility for conversions. The proposed changes also include increasing the number of flats that can be created above commercial properties (Class G), doubling the number of dwellings that can be created from agricultural buildings (Class Q), and making it easier to add extensions to commercial buildings (Class A). BEST MOMENTS "When we started this journey years ago, the idea of making it even to episode 100 was quite a daunting prospect and now we are at episode 400." "It does feel quite surreal and we can only do that thanks to your support, for you to keep believing in us and also from the amount of content suggestion that we actually get from listeners as well." "Here's to another 400 episodes in some way, shape or form." "If all these things do happen, it creates a lot of opportunities for you and I in order to acquire land, current buildings, and to be able to convert them into residential units a lot easier than it might already be able to do so." "Having these proposals, assuming these proposals are accepted, what that will mean moving forwards is a lot more opportunity. So adding dwellings here, adding dwellings there, changing A to B, for example, changing hotels to residential dwellings, all of these things are going to become a lot easier for you, becomes a lot easier for us, and also helps us to create more dwellings for the population to use." VALUABLE RESOURCES GET YOUR DEVELOPMENT FINANCE HERE: https://propertyfundingplatform.com/WharfFinancial#!/borrowerinitialregistration SOVEREIGN MAN PREMIUM INTELLIGENCE MEMBERSHIP https://dash.sovereignman.com/a/smc12m995/tpnpodcast SOVEREIGN MAN 4th PILLAR https://dash.sovereignman.com/a/4pmain/tpnpodcast ABOUT THE HOST Rob Smallbone is the author of the Amazon best-seller Buy-To-Let: How To Get Started as well as 101 Top Property Tips and Property FAQ’s. BOOKS  Property FAQs = https://amzn.to/3MWfcL4   Buy To Let: How To Get Started = https://amzn.to/3genjle   101 Top Property Tips = https://amzn.to/2NxuAQL   WHERE TO FIND US https://linktr.ee/thepropertynomadspodcast   uk property, Investment, Property, Rent, Buy to let, Investing for beginners, Money, Tax, Renting, Landlords, strategies, invest, housing, properties, portfolio, estate agents, lettings, letting, business: https://patreon.com/tpnpodcast

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