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How can you benefit from your unused roof top?

Penthouse in North Kensington, West London

HOW CAN YOU BENEFIT FROM YOUR UNUSED ROOFTOP?

With the cost of living showing no signs of slowing down, being a landlord in the current market can come with many challenges. If you are the freeholder or a property manager, you will be aware that there is a huge responsibility to protect and maximise your assets. Maintaining the condition of your building and ensuring it is kept in good condition can be proven difficult when there is a shortage of cash for renovations and repairs. What some freeholders may not recognize, is that their building could potentially be suitable for airspace development, which can unlock substantial value. In this article we explore how you can unlock capital from your unused roof space and open up an entirely new opportunity.

WHAT IS AIRSPACE DEVELOPMENT?

Airspace Development is the practice of constructing properties on or in the roofspace of existing buildings. It is often carried out in densely populated areas, where there is a shortage of vacant plots of land and the demand for new housing is often at its strongest.

DO YOU HAVE UNUSED ROOFTOP SPACE?

There may be an opportunity to create an additional storey of accommodation subject to confirmation that the existing building is structurally capable of taking a lightweight extension at roof level. 

 

Residential blocks of apartments, commercial units or mixed-use buildings are usually what we look for when it comes to seeking planning approval to build new dwellings above an existing building. It is best to seek the professional opinion of a developer on whether your building meets the specific criteria, so don’t hesitate to get in touch with us.   

WHAT CAN YOU DO WITH YOUR UNUSED ROOFTOP

Selling your airspace to, or partnering up with an airspace developer like London Penthouse is a simple way to unlock financial capital for freeholders, improve the quality of the building overall, and ultimately boost the value of the remaining existing properties in the building. 

 

At London Penthouse, we purchase unused roof space and transform the space into quality penthouses. Not only that, but we also renovate communal key areas of the rest of the building to help increase the quality of the space and boost overall value. That includes but is not limited to; refurbishing common areas of the existing building like entrances, hallways and staircases, as well as landscaping communal gardens and uplifting the appearance of the exterior building. There may also be a possibility of adding a lift, if the building doesn’t have one already.

 

London Penthouse specialise in airspace development and we have a wealth of experience in carrying out complex projects above existing occupied buildings in London, whilst keeping disruption to residents and neighbours to a minimum.

View some of our recently completed and current penthouse projects.