A growing number of unwanted offices in Southampton are being turned into flats, offering new opportunities for city-centre living.
From boardrooms to bedrooms – the increase in conversion is a result of the Government’s decision in May 2013 to introduce permitted development rights on offices, allowing developers to proceed without full, fresh planning permission for change of use.
Offices built in the 60s and 70s which no longer comply with modern space, access and environmental standards, have been unable to let profitably and they are now an attractive proposition to developers.
“This has been a good way to utilise vacant office space in the south and deliver much needed residential accommodation into the market,” said Nick Grout, associate director of development at Savills Southampton.
Savills’ South Coast Development Team has been involved with a number of office to student conversions, including 11-storey office block Brunswick House, at Brunswick Place and Richmond House, Terminus Terrace.
And Southbrook Rise, in Millbrook Road East, is to be transformed into more than 60 apartments.
Further afield, Winnall Place in Winchester is being converted into living space, as well as Wella House in Basingstoke, where 60 apartments were all reserved in just three weeks.
“Converting office space to living space is no mean feat and brings with it technical challenges,” said Nick. “Yet its benefits are two-fold: it helps to regenerate more unattractive buildings, many of which were vacant and, secondly, it helps to provide much-needed housing stock for first time buyers or investors as well as student accommodation.”
Permitted development makes for a much quicker change of use and doesn’t insist on 40 per cent social housing, which previously made conversion economically unviable.
Developers are being urged to act now to take full advantage of the initiative, as it is not yet clear whether the scheme will be extended after the general election in May 2016.
For more information, contact Nick Grout on 02380 713962 or Philip Brannon on 02380 713095
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