Hi new here but I own an airey house outright as an investment, it's a semi on a very large plot, the deeds have a covenant on multiple dwellings with Local authority, my question is do I refurb or try for planning on two properties, any experience or advice would be most appreciated
Airey house demolish or refurb
- Thread starter Garym05
- Start date
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Which is going to be more profitable? Are you likely to get planning for two units? Your move!
M
munchingB
not in the fens is it?
I'd go through the maths, assume you have got permission for two:
Cost to remove covenant
Contributions to Local Authority and/or County for community infrastructure?
Plot value?
Are you to build it?
Also consider the risk factor, everyone involved makes money (including the LA) but you take all the risk.
Find out all the costs involved - the covenant is probably the biggest unknown that requires research.
Cost to remove covenant
Contributions to Local Authority and/or County for community infrastructure?
Plot value?
Are you to build it?
Also consider the risk factor, everyone involved makes money (including the LA) but you take all the risk.
Find out all the costs involved - the covenant is probably the biggest unknown that requires research.
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Do you own both semis of the building, or only one? Demolishing one may be difficult and you're less likely to get planning for changing a semi into 2 houses leaving the other semi unaltered.
If you can demolish the building and it's a big enough plot you may be able to get planning for 3 or 4 flats especially if you can play the affordable housing card.
If you can demolish the building and it's a big enough plot you may be able to get planning for 3 or 4 flats especially if you can play the affordable housing card.
Its in a cul de sac & probably not suitable for flats, i have since found out a housing association own the other semi, is there any mileage in contacting them with a view to redeveloping ? plot size is approx 60x 350 feet. anyone had any dealings with LA on removing covenants (buying them out)
Could you leave the existng house alone and get development behind? Is there space for access?
That was my original thinking when i purchased it but i need to look into the covenants
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