Commercial Redevelopment: New Uses
Repurposing and redeveloping vacant, redundant, or underutilised sites and properties, or changing the use to increase and realise the capital value, are generally encouraged by both local and central governments, and there are typically significant financial and strategic incentives to do so.
Commercial land and buildings, suitable for new, more financially attractive uses can be –
Agricultural
land or buildings
Commercial, Industrial, or Leisure
Vacant or
Derelict
buildings
Owner
Occupied
buildings
Tenanted or
Part Tenanted
buildings
In the process of changing the use, it is possible that existing buildings on the site are removed and replaced, retained and converted, or partially re-used. Each project will have its technical and financial viabilities for the extent of redevelopment.
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At Hambleden we have many years of experience of working with owners of commercial land and property to assess the benefits of a change of use to residential or mixed uses, and managing the process to realisation of significantly increased value.
Our experience is wide-ranging
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Redevelopment of site from car sales lot to new build flats and local supermarket
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Redevelopment of site from underutilised supermarket to new supermarket and student accommodation tower
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Change of use of offices (owner occupied offices, business parks, derelict tower block) to residential apartments
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Conversion of barns to residential dwellings
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Redevelopment of former landfill site to mixed use site including residential dwellings and apartments, retail, leisure, healthcare, and offices
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Redevelopment of light industrial unit site to student accommodation
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Conversion of recently closed bank into residential apartments, community uses, and extension to local theatre
Key to the process of redeveloping commercial land is establishing in tandem the opportunities for the land or buildings and the objectives of the landowner. As financial viability is key to any decision making we provide detailed appraisals of the opportunities to allow robust, commercial decision making prior to embarking on a development project. Once a strategy is established Hambleden has the experience to source, via a transparent and compliant marketing process, the best options for consideration – whether that be an outright sale, a subject to planning or conditional contract, or a joint venture arrangement.
If you have commercial property in your portfolio and are considering redevelopment to realise capital we would be delighted to confidentially discuss the opportunity. Please contact us on 01491 714 071
