£1.1m Profit from Permitted Development Commercial Conversion | Property Elevator Deal Pitch S3 #01

£1.1 Million Profit From One Property Deal, but which Property Angel will fund it? Join Xuan Meng as she pitches her project on the hit Sky show Property Elevator. In this project Xuan is looking to exploit the new permitted development rules which allow commercial premises to be converted to residential use under a light touch planning regime known as 'prior approval'. Quite a few of the Angels see the potential of this project, but who will Xuan choose to work with?
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Property Elevator is a tv show where property entrepreneurs pitch for funding to five Property Angels; Ranjan Bhattacharya, John Howard, Helen Chorley, Nicholas Wallwork & Paul Mahoney. Series 3 Of Property Elevator returns Thursday's On Sky Channel 191.
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[@ranjanbhattacharya-succeed7617]

Register For this Tuesday's Commercial Property 90 Minute Webinar at 8pm: www.succeedinproperty.com/free-training

[@robertbiegala9958]

I love Ranjan's comments. They should allow Ranjan to do the comments during the program.

[@zeerazaq6755]

Massive uplift on this project, great share Ranjan and it shows why they need to come and see you for education

[@kirengill137]

Cracking deal! loved the pitch congratulations! Xuan Meng can't wait to see the progress 😃

[@demitrigiannias1805]

Great pitch & deal. Love the way how you see the solution for the basement issue Ranjan. If you have the right team & experts ANYTHING is possible.

[@zeearis4201]

Great Pitch. Weldon to the pitcher and the educator - i.e Ranjan

[@PropertyWithAndrew]

🤣🤣🤣 Great pitch Ranjan. Well done Xuan too

[@PropertyWithAndrew]

Cracking deal and great analysis by the angels.

[@joline2730]

Great pitch and analysis once again. Looks like very good potential there. Although I understand why you are not developing the basements, these would obviously benefit from being fit for storage for the shop, as most shops need space for stock. Very disappointed not to see the building at the back, so we, the viewer, are totally unaware of what is under discussion.

[@omermehmet7380]

Excellent pitch by Xuen. Having spent five days with her on a recent property business training retreat I can certainly agree that she is very investable. This deal went to the best suited backer for sure! 🤩

[@antonioandrade7947]

Excellent pitch! 👍

[@dominicormonroyd8973]

Great watch and top tips thanks Ranjan!! 👌👍

[@zumbadancesandy]

I remembered meeting John Howard before and got his free book. Thanks for sharing the video

[@wch4972]

Excellent

[@PlanningForProfit]

The PD changes (a lot of Council's are scared of by the way - take class E to resi a prime example!) are a great opportunity to understand with a lot more certainty what is the planning possibility of a site.

[@gordonrussell8161]

" MIND BLOWING"...🙃😊☺.

[@jameswalker366]

Hilarious and indeed, textbook. Great find.

[@DoctorAB282]

Wish her all the best very smart and loveable personality

[@ranjanbhattacharya-succeed7617]

She is great

[@vikeshjodha8745]

Loved the fact soon as she said class ma you was in the spotlight lol

[@paulkartara32]

Another fantastic video! Thank you for your content! Question - when converting the back of the ground floor shops into flats, what do you do with the front? Would these remain shops that you would rent out to businesses (if you were doing a buy, develop and hold project)? If so, the front of the ground floor would no longer have a bathroom, kitchen etc I guess, as these would be with the flat at the back, so would you have to rent the front out as pop-up shops? Would love to know your thoughts on this, thanks again! ✌

[@gsingh144]

Great video only seen one plan, what are back up plans and ideas for investors should the developer face planning issue or other unexpected costs with the development which really have a deep impact on profit ROI and return on time if there is also a downturn in the market now we are going to see the effect of end of furlough and bounce back loans and CBILs payments on top of rising inflation and living costs, with expected higher interest rates possibly

[@anthonydear4708]

I know this property very well as I used to work there. It was a piano retail shop and the warehouse at the back was for the pianos..lol

[@GIChow]

With all these commercial to residential opportunities I'm a little confused about what motivates owners to sell their property below true market value..is it just ignorance of the possibility of their obtaining planning permission for residential, lack of funds to progress planning..?

[@MrCraigShepheard]

The owners don’t necessarily know the potential value in the site so they are selling it based on the commercial valuation alone. The value of the rear of the shop is significantly lower than the front part (Zone A) however the residential value at the back is equivalent to the Zone A values.

[@GIChow]

@@MrCraigShepheard Thanks, so essentially the opportunity relies on the seller/auction house somehow being ignorant of the potential value from change of use and/or not having progressed planning permission (or checked that assumed permitted development is in fact permissible).

[@joline2730]

GI Chow: and quite often the seller just can't be bothered and just wants out, and wants or even needs the dosh quickly. The property may have suffered loss and he has no more money to throw at it.

[@chrisj3532]

Hi Ranjan really enjoying your content.. Question: Does this only apply in England?

[@mhasdrip1416]

What type of solicitor do you need for real estate development especially for a big block of apartments?

[@haydar-aliismail4270]

I wish there were more recent videos. I wonder why there aren’t any new videos

[@narenrajakulasingham6728]

Very informational content, I have a question Ranjan, I own a lease gold ground floor flat which has a cellar and the other flat owner holds the free hold for both flats. If I want to do something with the cellar is it relatively easy or do I need to seek permission from the free holder.

[@willdodd2810]

You can refurb your flat but need permission to alterations if cellar is not currently a habital room, read your leaee

[@Joe-rc2jv]

Hi ranjan how much funds would you need to start up?

[@kamgunner5920]

I need xuan to bring me in on a deal like that! That is a hell of a deal. Ranjan when is your next online webinar?

[@ranjanbhattacharya-succeed7617]

Next date is here www.succeedinproperty.com/free-training

[@Agapi00]

Question: What is an average investment pack for commercial property worth 200k in South UK?

[@danielafilipoiu8293]

How can I avoid to pay a building surveyor when biding for a house

[@mblum2202]

What am I missing, Ranjan mentioned that he will convert the whole ground floor and leave the basement, but it is a conservation area where you need to leave shop fronts, or is he saying because it is resi looking they will allow you to do it? Thanks

[@ranjanbhattacharya-succeed7617]

Ground floor is big enough to have a flat at the back and retain viable shops at the front.

[@TheDelbox]

Taking the three Surbiton shop fronts at around 30 square metres each according to the lady presenter/pitcher, and particularly the middle shop, how can it be assumed that an obligatory wc and basin will operate problem free in practice, as anyone with experience would completely rule out the horrendous issues with waste macerators? To take waste to existing soil pipes requires levels and falls to be considered, and if these are ruled out in a conservation area, or have to become part of a planning application, it could be complex. Otherwise I see great merit in it, given the affluent area.

[@ranjanbhattacharya-succeed7617]

Very easy with this site. It has a basement, so all soil connections would be down there and easy to connect to.

[@TheDelbox]

I see. Thanks for explaining.

[@TheDelbox]

Ranjan tells me the basement could be utilised for toilet waste and water removal, I think due to suggesting that Xuan subsequently abandons ideas of using the basement as rooms, maybe following comments from other Angels. Would have been even more interesting to know what NIA / size the warehouse was, and its connection/relationship to the main building, if any. Perhaps I have misunderstood it slightly.

[@jameswellington2913]

That area has article 4 directions. How do you work around this? Is the scheme still achievable under PD or do you go for full planning?

[@ranjanbhattacharya-succeed7617]

Article 4 is related to a specific pd right. There are no article 4 restrictions for the new Class MA pd rights in that area

[@jameswellington2913]

Thanks for clarifying

[@immers2410]

A retail to residential conversion under pd in a conservation area seems a bit of a stretch. You may well come a cropper on that

[@ranjanbhattacharya-succeed7617]

Front part is staying retail therefore not a problem , even in conservation area

[@steh667]

@@ranjanbhattacharya-succeed7617 is it certain that prior approval will be obtained where front of shop is kept please? When I read the class MA rules it just says council will do an impact analysis where the property is in a conservation area. Thanks

[@mohammadsaleh1152]

Where do these pitches take place ? What's the location ?

[@ranjanbhattacharya-succeed7617]

This is from a Property Elevator, a show on Sky 191. Filming for series 4 takes place in March 2022. To register your interest, visit www.succeedinproperty.com/applyy

[@mohammadsaleh1152]

@@ranjanbhattacharya-succeed7617 hello Mr ranjan thank you for your reply if it is possible will you tell me in which city the show takes place so I can see if I'm able to get there

[@weichengcn]

Has she secured the property before coming to the pitch? has she paid 800k? or vendor agreed to this price and she is looking for funding?

[@ranjanbhattacharya-succeed7617]

Most people haven't secured the property before pitching it on the show. Most people come on the show with a deal they want to secure funding on. Then when they secure a backer, we then progress to secure the deal. A few people have secured the site with a lockout agreement or option agreement. Some have exchanged and some have already purchased the property. But at the time of filming, most are looking for financial backing before they can secure the deal.

[@weichengcn]

@@ranjanbhattacharya-succeed7617 Thanks Ranjan. A few people suggested to get a QS for costing. Is this something that should be done before securing the property? or a ball park figure would be fine?

[@xoxcxsxm]

Market will be about to pick up on it if you keep shouting about it :)

[@davidyan7354]

not sure whats on TV, but it would make it more interesting if we see the building drawings, more photos, otherwise it is difficult to maintain your interest just listening the staged narrative.

[@joline2730]

Absolutely totally agree with this - the building at the back was invisible !!😏

[@darrensullivan6173]

A lot of agg. Shops, basement, flats above and a warehouse. Don’t want to be too negative but that’s a lot of risk. Not surprised some of the panel swerved it. Great if it’s a winner though.

[@ranjanbhattacharya-succeed7617]

Flats above are sold off on long lease. The issue with this is you make your money from simple pd by making flats at the back of each shop. The warehouse is massive icing on the cake!!