Despite the fall in UK property prices there are still some money making opportunities in property development;
Sarah Beaneys Channel 4 programme 'Property Snakes and Ladders' pin pointed the area in property development which can still provide a useful profit- Development and refurbishment of vacant freehold pubs.
The couple bought a derelict pub near Staines in Middlesex and converted it into a four bedroom family home with the pub garden providing the size of outdoor space you rarely find in new build.
The real profit in this deal however, was the potential use of the pub car park where planning permission had been sort to build two, three bedroom family homes! There is of course the risk that planning will not be granted, but the programme estimated that the completed venture would provide a 30% profit for the developers.
6 pubs a week are closing. The asking price of these buildings are low enough to tempt property developers as well as other retailers. Planning laws on change of use may restrict development to residential property on pubs in certain areas; a city centre pub is more likely to gain permission for conversion to a residential property than the only pub in the village
Paramount Investment offer pubs for sale with and without change of use / planning.
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