Since the recession of 2008, there has been a similar story being told across the UK. Thousands of office buildings – both old and new build – are currently stood vacant, with businesses reluctant to take the considerable gamble of committing to renting or buying a large premises from which to work.
For many owners or landlords of these office spaces, this trend is extremely worrying, and with an uncertain economic future lying ahead, it seems unlikely that a turnaround is close by.
At the same time, the expanding population of the UK and the fact that many older homes are no fit for purpose means that demand for housing and living space has rarely been higher.
It was this paradoxical situation – some developed space in ideal locations lying empty while developers looked desperately to find new areas in which to build residential homes – that inspired us in Ensure Construction to begin offering office to residential conversions.
For over twenty years, one of our specialities has been offering home extensions and loft conversions to domestic customers. Using our considerable expertise in this arena, we’ve turned our hand to transforming a wide variety of office spaces into residential homes, exponentially increasing the value of the property and creating an additional revenue stream via tenant rents.
Nowhere is this service more potentially lucrative than in the English capital of London, where space is at a premium and property has never been in greater demand. Residential space typically costs around £2,000 per square foot, whereas the equivalent amount of office space can cost as little as £1,000. This disconnection between the cost of office and residential space serves to underline just what a golden opportunity an office to residential conversion represents for many owners of offices.
Although we judge every project on its individual merits, our basic pricing structure for an office to residential conversions is:
- Studio apartment – from £19,995
- 1 bedroom apartment – from £24,995
- 2 bedroom apartment – from £29,995
Convert your office into a residential home
If you own or manage office space and want to investigate the possibility of converting it into residential homes, contact us for a quote today and see how we can work together to transform a problematic property into a space of huge potential.