A new case study has suggested empty commercial spaces can be viable and attractive opportunities to create affordable homes…
Charity Empty Homes has revealed the scope of former commercial space in providing new homes. In a case study published in a new research report, the organisation showed this route could be both viable and attractive.
Funded by the Nationwide Foundation and launched at a parliamentary audience hosted by MP Mark Prisk, the ‘Affordable homes from empty commercial space’ report showed while there are challenges with changing commercial space into residential there are also opportunities. This includes reducing blight on the local area, improving the environment, and allowing owners to better utilise property assets.
The research does not suggest “poaching” property from the commercial sector, but points to spaces that have been empty for a long term as a viable solution to create affordable property.
Furthermore, it noted despite concerns there were few cases were structural issues created a major impediment to converting commercial space into housing. Instead, barriers were seen with owners of property who may not realise the potential of their property to be used for housing instead.
Report author Helen Williams of Empty Homes said: “Our research showed that contrary to popular belief, dealing with structural issues to create suitable housing from former commercial property is not the main barrier.
“The bigger issue is in fact engaging owners of empty commercial property to recognise and realise the potential of their asset in ways that they often do not think exist or can easily be overlooked when the day job is running a business or in the context of a large property portfolio.
“One major target must be to raise awareness among owners that they can work with councils and other housing providers to bring commercial properties back into use in a way that supports their business goals, while enabling the work of those seeking to create homes for people priced out of decent housing in an area.”
Leigh Pearce, chief executive of the Nationwide Foundation, added: “To meet the demand for housing in the UK, local authorities must be encouraged to look at ways that not just empty homes, but also other empty properties can be renovated and adapted to deliver decent affordable homes.
“While there is a clear headline policy focus on delivering an increased supply of new build homes, it is important not to neglect giving attention to the other ways in which increased housing supply can be achieved.
“This research highlights how converting former commercial property can make an important contribution.”