The return of Permitted Development – what we have learnt and what does the next cycle look like?

Auctioneers Richard Adamson and George Walker are joined by Allsop Residential experts Andrew Boyd and William Shoebotham to discuss many shared experiences with permitted development blocks which first appeared as empty office buildings everywhere a decade ago.Ten years on, having seen one of the biggest ever lots at auction sold at £13.5M, the market has developed into a sophisticated provider of residential space. Allsop sold £100m of these assets in 2023 alone. These properties are now being fought over by Institutions, Family offices and High Net Worth buyers as the team discuss at length. Who are the buyers and what are they paying?With the return of large scale PD, Andrew Boyd highlights the restrictions on obtaining prior approval and where we are likely to see large scale office to residential conversion.With his Development expertise, Andrew Boyd looks ahead, how will the genre develop as a simple planning tool and become part of the answer to urban regeneration and provide homes in London, the South East and across the UK and a return for those same Investors.The podcasts presented here are for general guidance and represents opinions of our teams based on the property market at the time of recording. All details are correct at time of recording.Want to know more or would simply like some advice?We hope you find this podcast useful. If you want to know more about topics covered in this podcast or perhaps some advice on Central London real estate or valuations, then please get in touch.George is a Partner and Auctioneer in the Commercial Auction Team . He has been an auctioneer for over 25 years and has had a hand in selling over £6 billion of commercial real estate.Richard is a Partner and Auctioneer in the Residential Auction Team. He oversees the sale of a wide range of asset types across the residential sector.Andrew is Head of the Residential Transactional and Living Markets Team and is also a member of the Allsop LLP Management Board, as well as being Non-Executive Director of Allsop Letting and Management.William specialises in residential investment sales and acquisitions across the UK. He has experience in both purchasing and selling blocks of flats, portfolios of both houses and flats, HMOs and Permitted Development buildings.

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