The recently revised Class Q permitted development, whilst a seemingly fantastic opportunity for landowners, arrives at a time of unprecedented uncertainty with Brexit Looming…
Class Q is a form of permitted development allowing for the conversion of agricultural buildings to residential use. Under Class Q, the local authorities in no more than 56 days must reach a final decision as to whether a property is eligible for permitted development. Failure to respond within the 56 days results in permitted development being automatically granted, making this a unique opportunity for landowners to generate quick revenue on their existing agricultural property.
Revisions to Class Q, made in April 2018, now allow for up to five dwelling houses to be established up to a maximum developed area of 865 sq m provided the footprint of the development does not exceed the original size of the agricultural building.
Fundamentally, this offers landowners two rare benefits:
1) Great potential for a short-term significant financial boost
2) Development that may not have received permission otherwise
Whilst landowners may not have the appetite to involve themselves in developing property in a time of such political volatility, one option is to wait for the situation to resolve itself, which could take decades… Alternatively, landowners can now offload the risk to an experienced developer and take a substantial share of the renovation profits without lifting a finger…
Class Q Ltd have a seasoned team equipped to utilise the Class Q rights by partnering with landowners and carrying all costs and associated risk through the Class Q permitted development application and construction processes.
Not only do we provide a quick and expert solution to the development, we also offer a unique profit share structure once the property is redeveloped and sold. This means you are paid twice for the development, once at construction commencement and again once the property is sold. There is no other solution available for Class Q property development that matches Class Q Ltd’s!