Commercial St
The high street dilemma:
I have been offered these two different sites off market.
The first is a big (empty/run down) retail unit, with a large 3 story building attached at the back. The second is a very grand 4 story, retail/commercial
building, which is ripe for conversion into residential flats.
The council has identified this area for regeneration and urban renewal, and it will come…but no one knows when.
Currently the residential sqft values are very low (£170/sqft) so factoring purchase price and build costs, it’s very tight to make a margin with the GDV.
The flip side is; get in early and you could make a killing in the long term.
Ultimately it will depend on your view on the role of the high street, when and if it will bounce back and if so when to jump in.
Property 1
Property 2
The high street dilemma:
I have been offered these two different sites off market.
The first is a big (empty/run down) retail unit, with a large 3 story building attached at the back. The second is a very grand 4 story, retail/commercial
building, which is ripe for conversion into residential flats.
The council has identified this area for regeneration and urban renewal, and it will come…but no one knows when.
Currently the residential sqft values are very low (£170/sqft) so factoring purchase price and build costs, it’s very tight to make a margin with the GDV.
The flip side is; get in early and you could make a killing in the long term.
Ultimately it will depend on your view on the role of the high street, when and if it will bounce back and if so when to jump in.
A typical high street.
It appears to me that many town centres have been regenerated with upgraded paved areas with new shops and bars. These give a modern, ‘fresh’/‘clean’ shopping experience. These are home to the likes of TK Max, Fitness First, M&S Food Halls, Costa etc
However this has left those outlying areas, with more traditional, say 1970’s and 80’s stores, left behind. Those previously big anchor, blue chips stores, Debenhams, BHS, Woolworths & betting shops have either gone or are going.
This combined with downsizing of office spaces, leave huge footprints unoccupied….the question is, what can take their place? And how are these areas going to come back to life?
