25,000ft2 Farm to Commercial Use Redevelopment
Repurposing under-utilised farmyard assets into commercial developments, delivering sustainable rental income and long-term business resilience.
Project Particulars
Client:
Location:
After a clients farm business restructuring, we were tasked with increasing passive rental income to the business through under-utilised farmyard assets, enabling greater diversified income and allowing the client to continue to focus on the farming enterprises.
Services Provided
The Story:
We outlined three under-utilised agricultural sheds to be redeveloped to commercial, light
industrial and business uses. Demand for these uses in the area are high and tight conversion
costs presented strong yields. Due to significant construction, redevelopment proved much
more cost effective than new build development elsewhere on site. Additionally, permitted
development rights, such as Class R were used to quickly and cheaply change the use of
some of the built form, and act as fallback positions, reducing planning risk.
The scheme needed to remain cognizant of remaining agricultural operations. Access and
separate zonal areas were needed to prevent conflict between enterprises.
The team carried out feasibility assessments of each building individually prior to submitting
for planning, to ensure minimal risk of abortive cost. Procurement and project management
were undertaken to ensure successful time, cost and quality buildout metrics.
The Result:
The Client is achieving 18% return on investment across the three barns, and was able to
mostly cashflow finance the development works by phasing the developments appropriately,
and using pre-let agreements to allow for instant returns. The principle of commercial use on
site, and proven demand has allowed us to acquire consent for a new build 6,000ft2 B2 light
industrial building for our next phase of works.
Project Team:
Lead Consultant: Alexander Moss (DPA)
Project Manager: Sean Enright (DPA)
Project Team:
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