Buying above commercial

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worriedbuyer
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Buying above commercial

Postby worriedbuyer » Mon May 08, 2017 6:12 pm

Hi all, name changed to protect my anonymity.

My daughter has just found a flat that she loves, and can afford although it is *several floors* above commercial in Balham - currently a shop.

The surveyor expressed concern that if the shop didn't have a prohibition for use as a restaurant, any change to this could make the property value drop by 50%.

This is a prime spot in Balham, beautiful flat - doesn't that seem a little dramatic to say 50% drop!!!?? I am stressed out and worried as she wants the flat but it all just seems like what if, etc. The bank apparently wouldn't be as concerned by the 'potential change' but the surveyor instructed us to have this checked with the freeholder via the solicitor .....

any thoughts?
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Goldhawk
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Re: Buying above commercial

Postby Goldhawk » Mon May 08, 2017 6:15 pm

What is the retail unit class at present?
Imagine if it becomes a fried chicken shop doing late night takeaway
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worriedbuyer
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Re: Buying above commercial

Postby worriedbuyer » Mon May 08, 2017 6:34 pm

It is currently a shop ( chemist ) A1. Even if it turns out there is a prohibition on A3 I imagine this still could be changed?

I don't know what to suggest as she is young and probably wouldn't bother her as much as it would me, she wants to be very central and this is by far the best flat at the budget. But it is the resale issue.
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Goldhawk
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Re: Buying above commercial

Postby Goldhawk » Mon May 08, 2017 7:07 pm

They can be changed and usually the council accepts the changes despite local objections eg the betting shop next to Wetherspoons
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graceygirl
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Re: Buying above commercial

Postby graceygirl » Tue May 09, 2017 9:29 am

This is a shop now so a1 - it couldn't become a5 ( fast food ) without extensive planning permission?
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