UK Business Advisors (UKBA) is highlighting to property owners in SMEs that now is the ideal time to assess their freehold, or indeed leasehold, property stock for appropriate planning gain. Good yields are available on freehold acquisitions, particularly for industrial buildings and serviced business hubs.
The Government is seeking to substantially reduce the volume of unnecessary documents that define National Planning Policy. In addition to reducing the time and effort that causes so much waste, the proposals will release barriers to property investment. The Department for Communities is set to ensure that new factors influence planning decisions with:
· More emphasis on local communities that will have greater influence on planning decisions, as opposed to having to strictly follow national rules
· A presumption in favour of sustainable development.
The new policy is founded on good intentions but UKBA is concerned that it risks being delayed by objections from vested interest groups including the Planning Officers Society.
The draft document can be seen on the Department for Communities website:http://www.communities.gov.uk/publications/planningandbuilding/draftframework
UKBA is encouraging property owners to influence the document directly by responding to the draft document by 17th October 2011.
Malcolm Randall, a Property Consultant at UK Business Advisors commented “Good yields up to 9% are available on freehold acquisitions, particularly for industrial and manufacturing buildings and serviced business hubs. Rental income from good tenants has been happening for the right quality building with the correct planning permissions. We are encouraging business property owners to take advice now.”
Malcolm Randall is a business advisor within SWBA, the South West region of the UKBA network, and can be contacted firstname.lastname@example.org .