Featured in FT Adviser:
New rules allowing commercial premises to be
converted into homes have come into force as the government looks to
“revitalise” high streets and town centres in England. The government said the
new rules, which were announced by housing secretary Robert Jenrick last week
(March 31), will help support the creation of “much-needed” homes.
Estimates put the number of new homes needed
in England at up to 345,000 per year, according to a House of Commons library
paper published in January. Instead of a full planning application, unused
commercial buildings that are converted into new homes will undergo a simpler
process of prior approval and ensure they meet standards on space and adequate
natural light.
Jenrick said: “By diversifying our town and
city centres and encouraging the conversion of unused shops into cafes,
restaurants or even new homes, we can help the high street to adapt and thrive
for the future.”
Research from PwC on store openings and
closures in 2020 found a record net decline of 9,877, equivalent to an average
of 48 chain stores closing every day, alongside 21 openings.
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