If you are the freeholder of a building or a portfolio of properties, you may be exploring ideas of how to increase the value of your assets. Aside from your rental income what may your options be? Could there be value above you…?
Click Above work with freeholders to provide solutions to maximise the value of their properties through rooftop development. Through innovative design and off-site construction, property owners are able to make use of the available airspace to create new, modern apartments, increasing the value of their asset and improving the existing building.
Off-site, modular construction has been used for decades and has recently grown in popularity within the UK construction industry for a number of reasons. Building off-site in a quality controlled environments comes with a number of efficiencies, especially advantageous when building in dense environments, such as town and city centres.
What are the advantages of rooftop development?
Adding Value – By building upwards instead outwards, you are able to utilise space that may not have been previously considered for development, increasing the value of the asset. As a freeholder, you can now generate further ground rent revenue from the newly developed properties.
Minimal On-site Disturbance – The modules that make up the new homes are built off-site, in a quality controlled environment, meaning time spent on-site is kept to a minimum. This means less disturbance for your tenants, neighbours or business and a much faster build process for you. New apartments can be delivered on site, ready for occupation in a matter of days as opposed to months or years.
Improvements To The Existing Building – Click Above are able to enhance the appearance and facilities of the existing building as part of a development. New buildings that have been renovated instantly look better and have greater value. In addition to this, improvements usually paid for by the landlord or tenants e.g. a new roof can be absorbed by Click Above.
Things are ‘Looking Up’ for rooftop development, planning regulations!
We are pleased to hear that the government recently announced a consultation on new Permitted Development Rights, allowing for an additional two floors to be added on top of buildings, in areas where housing is scarce. Government officials are in support of innovative solutions such as MMC and rooftop development, making it easier for property owners to build up rather than out.
Article by Anthony Moubarak
To learn more about rooftop development, contact Click Above today.
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