Changes in PD Rights for Large Offices
The new broad permitted development rights, Class MA, which will come into effect from 1st August 2021, will reduce the scope of the existing office to resi permitted development.
From the 1st August, Class MA will replace the current Class O Permitted Development Rights (office to resi). Class MA will not apply if more than 1,500 sq.m. of cumulative floorspace is to be converted. This represents a significant new restriction for office to residential change under PD rights.
Therefore, if you own an office building which is larger than 16,000 sq.ft. and want to take advantage of current planning legislation, now is the time to act. Applications must be submitted by 31st July 2021.
Since the introduction of Permitted Development Rights (PDR) allowing the change of use from offices to residential, Kingsbury have become market leaders in the acquisition, sale and management of PD schemes, and have already completed sales for in excess of 3,000 units across the UK. Last month has seen us conclude transactions on 3 more office buildings, which will now be transformed into housing.
We have on-going requirements for similar properties suitable for permitted development; please contact firstname.lastname@example.org for initial advice.
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