Changes to UK planning system - PwC real estate partner commentsFollow @PwC_Birmingham
Commenting on anticipated changes to the UK planning system, which could see offices being freed up for conversion to residential use, Simon Hardwick, PwC Legal real estate partner and co-author of Emerging Trends in Real Estate Europe 2013, said:
"Such a change to the planning regime would be positive news - both for the real estate industry and the communities that will be affected. There is a well-recognised shortage of new housing stock in the UK, but a surplus of redundant office space. At a time when the economy needs all the help it can get, it makes no sense for planning regulation to stand in the way of beneficial development that could provide new homes and welcome investment.
"London has little to fear from this: it is a dynamic economy and, in the West End, much of the stock earmarked for conversion from office to residential was originally built as housing."
Email: Alistair Reason
Tel: 0121 265 6966