Converting commercial premises to residential

jos28

Just curious to see if anyone has experience of this. I've seen a couple of these conversions on various tv programmes. I think Dermot Bannon did one in Dun Laoghaire a few years ago. AFAIR it was formerly a commercial garage and it was transformed into a seriously cool home.
Anyone any experience of this, what are the advantages/disadvantages ?
Don't have anywhere in mind but wondering what the pitfalls would be.

VonBeanie

I think planning is the biggest problem. You need to have use changed from commercial to residential. The Local Authority get rates from a commercial property, so this change means a loss of revenue, and so this is tough. It can be done. Its just not easy.

Gumbo

Relatively straight forward.

Planning application.
Hard thing is complying with the building regulations for new dwellings, this may mean a near gutting of the existing structure in order to meet the minimum heat loss and air tightness requirements.

May be more expensive than building a standard dwelling from scratch but you have the opportunity to create something special / different.

pwurple

Em, not sure why anyone in their right mind would do it in this climate. Are you trying to make a loss for some reason?

The pitfalls are:
-Overholding tenants. They stop paying, you have no recourse. Got children? Hope you like them starving, cos housing provider's children deserve to starve apparently.

-Millenials (Lazy term I know, basically I mean grown adults who are unable to change a lightbulb or a hoover bag without phoning their landlord)

-PRTB entirely siding with tenants rather than being in any way impartial and no landlord advocacy group equivalent.

-Rent freezes - cannot control your own rent. The unit next door in worse condition is rented for twice the price... Bummer, sucks to be you for the next x years.

-Market instability. Every year for the last 7 years there has been some legislation passed which changes everything again. Impossible to plan anything on shifting sands, like improvements, because the following year that might be the only way you can adjust the rent.


We are converting the other way. Now down to one single residential unit left, the rest are commercial. 5 year leases, no demands for random **** in the middle of the night. I provide a service they need, they happily buy that service, everyone is happy.

I used to think I was helping the homeless , by providing more housing stock in good nick to keep people housed, but I recently hear I am in fact "landlord scum" for providing accommodation, so best off out of it.

Gumbo

pwurple wrote: »

Em, not sure why anyone in their right mind would do it in this climate. Are you trying to make a loss for some reason?

The pitfalls are:
-Overholding tenants. They stop paying, you have no recourse. Got children? Hope you like them starving, cos housing provider's children deserve to starve apparently.

-Millenials (Lazy term I know, basically I mean grown adults who are unable to change a lightbulb or a hoover bag without phoning their landlord)

-PRTB entirely siding with tenants rather than being in any way impartial and no landlord advocacy group equivalent.

-Rent freezes - cannot control your own rent. The unit next door in worse condition is rented for twice the price... Bummer, sucks to be you for the next x years.

-Market instability. Every year for the last 7 years there has been some legislation passed which changes everything again. Impossible to plan anything on shifting sands, like improvements, because the following year that might be the only way you can adjust the rent.


We are converting the other way. Now down to one single residential unit left, the rest are commercial. 5 year leases, no demands for random **** in the middle of the night. I provide a service they need, they happily buy that service, everyone is happy.

I used to think I was helping the homeless , by providing more housing stock in good nick to keep people housed, but I recently hear I am in fact "landlord scum" for providing accommodation, so best off out of it.

Possibly posted in wrong thread?
The OP has made no reference to renting, RTB or anything of the like.

jos28

No intention of using it for rental income. Youngest offspring is looking to buy their first house and it's not going to be easy. Very, very little to look at in his price range. We noticed a couple of small empty shops in the area he loves and it got me thinking - that's all.
One was a tiny former newsagents that looked as if he had rooms upstairs and I was wondering if it might be an option.
https://www.irishtimes.com/news/social-affairs/no-planning-needed-to-change-commercial-buildings-to-housing-1.3004565

jos28

Thanks for all the input folks. It could be something worth looking into.

bleary

The stamp duty rate used to be higher when purchasing commercial. Also mortgage may be more difficult and then planning permission for change of use requires