London Property Market Gone Mad (with Some Help From AM Surveying!)
How much would you pay for 56 sq meter roof space? How does nearly half a million pounds sound?
AM Surveying Property Services were instructed by their client to assess the feasibility of obtaining Planning Permission and constructing an apartment on this small section of flat roof which is located in the sought after location of SE1, London just a 5 minute walk from the Shard and Borough Market.
Commissioned by our client our Chartered Building Surveyors and planning team were tasked with preparing a scheme which was felt to have potential and get the green light from the local Planning Authority.
Our planning team prepared a scheme which provides a third floor, one bed penthouse apartment with roof terrace which can be seen below.
3D rendering of proposed one bed penthouse apartment.
The proposed development was submitted to the local Planning Authority in mid 2015 and after some back and forth with our office and the Planning Authority including an Appeal process we achieved Approved status for the development on behalf of our client in December 2015.
Our client took the decision to market the roof space through local Estate Agents, only to be shocked to find the roof valued at a whopping £450,000 (for the roof space alone).
That's nearly half a million £ for a patch of roof, with no flat on it and it's the responsibility of the buyers to build the proposed flat at their own additional expense.
The story created somewhat of a buzz in the local community making it into several local news outlets, read one of those stories here: www.dailymail.co.uk/news/article-3356517
As you can imagine, we received high praise from our client whom now owns a patch of very valuable prime London (roof!?) property.
Do you have a development site with potential? Contact our planning team on 01622 88 22 44 or find out more about our services via our website.