Friday, 1 February 2013

Offices to flats

The Independent examines how the property industry has reacted to the Government’s relaxation of planning rules which will allow offices to be turned into flats. The policy change could provide more than 40,000 new London homes, many in prime central business districts.

Areas which have already been earmarked for conversion include the Shell Centre on the South Bank, where developers are proposing a new quarter with 790 homes, and Centre Point, at Tottenham Court Road, where Almacantar has proposed to covert the tower into 82 high-end flats. The paper notes that the areas around Vauxhall, Victoria, Euston, Whitechapel, Waterloo and Hammersmith are all ripe for conversion because residential demand is growing and there a number of outdated office blocks.

However, housing associations fear relaxed planning rules will merely a trigger a boom in luxury developments and do little to ease the need for cheaper homes for young Londoners.  
The Independent, 44

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