28 Jun

Commercial property conversions 'need careful consideration'

Commercial property conversions 'need careful consideration'

Commercial property owners keen to convert their buildings into apartments to rent in Brighton have been urged to consider all of the work involved carefully, in advance.

The National Association of Estate Agents (NAEA) warns that there is lots to consider before undertaking work, to ensure that converted property would be capable of being let through letting agents in Brighton.

New guidance from the NAEA is intended to make it easier for landlords and property investors to take advantage of the government's decision to relax the laws governing the conversion of property.

While the organisation accepts that the policy change will reduce restrictions on development, issues such as location, local amenities and restrictions on parking and traffic around commercial sites could all hamper plans.

NAEA chief executive Peter Bolton King said: "Such renovations are not simple undertakings.

"We advise that a thorough evaluation of the work involved is carried out beforehand to avoid additional cost burdens."

Property for sale in Brighton has fallen in value since January and stood at an average of £214,613 in May 2011, according to figures from the Land Registry.

Many of the residents in Brighton and Hove commute to London daily, making the city popular with affluent Londoners keen to move to the coast.ADNFCR-1222-ID-800602752-ADNFCR

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