Have office to residential conversions had their day?

With sites for residential development increasingly hard to come by, developers have in recent years focussed on actively looking at underperforming office buildings and converting them to capitalise on London’s housing crisis. Take 55 Victoria Street in Westminster, for example. A once dated 1980s office block, it now consists of 57 luxury New York loft-style apartments, ranging from studio flats to split-level penthouses, with banking and retail space on the ground floor. Office and warehouse conversions are nothing new in the capital, nor in cities across the UK, but the rate at which office space is being lost has resulted in the City of London Corporation having to take action.

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Have office to residential conversions had their day?

 

July 23rd — 2018