Office space to let?

Working from home looks to become the new normal as the challenges of 2020 have forced businesses to adopt more flexible working practices.

Research carried out by the comparison site, Finder.com, found that 60% of the UK’s workforce are currently working from home and that 26% of us plan to continue to work from home on a more permanent basis after lockdown restrictions are over.

Furthermore, an article from thisismoney.co.uk reports that in a recent survey of businesses on their view of working practices once lockdown measures lift, 82% said they are now considering allowing more staff to work remotely on a permanent basis and 65% indicated they will downsize or change their office space.

Not the news you want to hear if you are a property owner with office space to let or leases about to expire.

Have you considered repurposing your space for other uses, such as residential?

There are of course change of use planning implications, but once this has been agreed it can be relatively straightforward and more importantly, cost-effective to reconfigure your commercial space.

The residential property market is booming. In fact, according to the Office for National Statistics UK average house prices increased by 5.4% over the year to October 2020, this is the highest annual growth rate the UK has seen since October 2016.

If the time is right for you to make the change from commercial to residential, the FPM Group is here to help.

We have years of experience in reconfiguring space for change of use and helping our clients optimise their property investment.

To talk to us about the re-purposing your office space,
please call us on 02476 469605