Budget 2013 Residential Property Pension
Published / Last Updated on 28/11/2013
Budget 2013 Residential Property Pension
The government has confirmed that as part of its review of expanding pension investment options it will consider and consult on:
Unused Commercial Property Space in buildings already owned by pensions funds may be converted, subject to planning permission, to residential use.
This is in additional to commercial property developers being allowed to explore commercial property conversions to residential property.
At last, some sense.
It is criminal to have so many commercial properties that are empty and if they owned by a pension fund they cannot be converted to residential property given the housing shortage in the UK.