Agricultural Barn Redevelopment
Transforming a redundant livestock building into a high-quality commercial space, delivering sustainable income and long-term asset value.
Project Particulars
Client:
Location:
A client’s redundant livestock building in an outlying parcel. A tenant who had outgrown
their space. Bringing these together turned an idle asset into low-risk, long-term income
from a modest outlay, proof that the smallest buildings on an estate can work hard for it.
Services Provided
The Story:
Through an existing client relationship and having outlined the building as a potential
opportunity throughout the masterplanning process, the client advised our team that an
existing tenant was seeking more space, providing a pre-let opportunity for the conversion of
this barn.
The team set out a feasibility analysis to determine build value and whether an acceptable
return on investment could be made with this particular barn, whilst allowing for
competitive rental rates (£/m2/ft2).
Once a robust return could be demonstrated, the team carried out an initial Class R
application (<150m2) to develop a fallback position, and a subsequent full planning
application, to allow for the complete redevelopment of the structure, into what is now an
attractive rural Class E use unit.
The Result:
The unit now provides a respectable 12.7% return on investment, with a scoped indicative
capital value of c.£285,000, proving that even small buildings can generate strong returns.
The tenant moved in immediately, having agreed terms prior to construction.
Project Team:
Lead Consultant: Alexander Moss (DPA)
Project Manager: Sean Enright (DPA)
Project Team:
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