Development Property For Sale: UK Property Investments
This property investments database offers hundreds of property development opportunities for sale such as pubs, hotels, hostels, care homes, petrol stations, factories, churches, hospitals, post offices and other former public buildings. Paramount Investments also offer UK properties for sale with planning permission and UK properties for sale without planning permission.
UK Pub Sales: Buying a Freehold Pub or Hotel Suitable for Redevelopment
Pubs in the UK have a flexible A4 planning 'use class' that normally can be changed to A1 use, A2 use or A3 use
A1 Use: Shops, retail warehouses, hairdressers, undertakers, travel and ticket agencies, post offices, dry cleaners, pet shops, butchers, sandwich bars, showrooms, domestic hire shops and funeral directors.
A2 Use: Banks, building societies, estate and employment agencies, professional and financial services, betting offices
A3 Use: Restaurants, pubs, snack bars, cafés, wine bars, shops for sale of hot food
Alternatively, buyers can apply for planning permission to convert the pub or hotel into a residential property.
Often UK pubs come with land, beer gardens or car parks that can be developed. Unless it's a village pub, where community issues come into play, planners are sympathetic to alternative uses. Pubs close because they are not successful businesses and redevelopment helps regenerate the area. In run-down areas, planners often want to keep a commercial use for the pub because this boosts local employment.
Before you buy a run down pub or hotel in need of refurbishment or redevelopment, explore different ways of achieving the best return on your property investment
Modernising a pub. A general decorative overhaul can push up the value of a run down pub or hotel without involving planners, architects and a big investment,.
Converting a pub. At its most simple you might buy a large public house or hotel and turn it into flats, but this still involves complex investment budgeting and financing. There's often a large gap between the value of a pub and what it might fetch if redeveloped or converted to offices, shops or flats - but there are also a lot of costs involved, and often a lot of pitfalls. Sometimes it's more profitable to convert the pub into a single house. Planning permission will normally be required in both scenarios. Many Victorian pubs are listed, which can complicate conversion projects.
Change of use as a pub. The conversion of a building from one of business use into housing is a more complex proposition. For example, when converting a pub or hutel into flats, the big, initial risk is trying to buy the property without first applying for planning permission for 'change of use'. You should never buy an investmnet property on the assumption that 'change of use' is possible without serious research into the planning issues and a detailed conversation with local planning officers. Many hotel and pub sales like this are achieved only when they are 'subject to planning', that is, the deal will only be completed, and the full purchase price paid, when planning permission is granted.
The practicalities. With any prospective pub or hotel redevelopment or refurbishment, you'll need to have a good understanding of building regulations and of the architectural possibilities of your property. When converting larger and more substantial pubs, you'll probably need a professional team and you'll need to budget for their services.
http://www.paramount-investments.co.uk/property-developers.htm
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