Fair Rents (Scotland) Bill or Artificial state manipulation of free market rent?10:34 AM, 6th November 2020
About 4 weeks ago 36
I am a regular reader but this is my first post.
We have recently purchased an ex LA (local authority) first floor flat in a 4 storey block of 8 in London.
Ours and one other are private, the rest are still LA.
The flat underneath us is vacant and we have just had a planning notice requesting change of use from Class 3 residential to B1, an office. The residents are wanting to take over the management of the estate (not just our block) and are wanting to use this flat as their office because it already has disabled access.
On the face of it, the proposals do not really cause us too much concern because it will be used 8-5, Monday to Friday, but are we missing something?
We also have no idea what would happen to the valuation.
On the one hand it would stop us having a neighbour from hell (or equally a perfect neighbour), but on the other hand, it may get used for something else in the future which we would not want.
Can we ask for some sort of covenant so that it is only used for the management of the estate?
Any thoughts would be very much appreciated, both for and against, and we are especially keen to know what would happen to our flat’s value, considering we may have bought at the top end of the market (March 2014).
Many thanks in anticipation.
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