How do you source Commercial Buildings and Convert them to Residential Projects

Are you thinking about converting a commercial property into a residential space but not sure where to start? In this video, we delve into the intricacies of sourcing a commercial building for residential conversion. The key point to consider is the difference in measurement standards: commercial properties are typically measured on a Net Internal Area (NIA) basis, which excludes common areas like stairwells and toilet areas. However, for residential conversions, we use the Gross Internal Area (GIA) measurement, which includes these spaces. This distinction is crucial because agents often market properties using NIA, potentially overlooking additional usable space. For instance, when we acquired Derwent Court, the marketed NIA measurements were smaller than the actual GIA. By conducting our own measure prior to purchase, we discovered extra space not initially accounted for, providing us with more room for residential units. Understanding these measurement differences can significantly impact your build costs and project feasibility. Watch the video to learn more about this vital aspect of property conversion and see how we navigated this with Derwent Court.

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