If you want to be successful as an investor, it really helps to look at local needs. This can help to focus your strategy, ensuring you invest in the right kind of properties for the areas. It’s also beneficial to look at services that could protect your rental income. We can help, providing exceptional guaranteed rent in Redbridge and other parts of London.

A recent case gives more weight to the importance of considering the local area, especially if you’re thinking of adapting an existing property. Let’s have a closer look so you don’t have the same kind of issues.

The project

A developer was proposing to convert a home on Canterbury Avenue in Cranbrook, Redbridge. The idea was to create a supported living centre for teenagers. It would be similar to a HMO, student housing, or co-living building. As a result, the residents would have their own private room and then share communal spaces such as a kitchen. While staff would not live permanently at the property, they would work shifts and stay overnight to provide support.

Interestingly, the developer actually submitted two plans here. The initial proposal was to convert the home to create space for four teens. However, this plan did not get approval from Redbridge Council. At the time they said the number of residents would not justify converting the property.

The second, and more recent, application had increased the number of rooms to accommodate six teenagers. Again though, the council did not give planning permission. Speak to us about assets and guaranteed rent in Redbridge.

Local needs

On declining the second planning application for the home in Cranbrook, the council critically said there was “no demonstrable local need”. Children’s Services in the area said there were only a small number of teens from Redbridge receiving care. As a result, they see no reason to give permission.

The Council was also critical of the details within the project. They said both applications did not provide sufficient information about key things like managing the supported living centre. Additionally, the latest version did not specify staff numbers, shift patterns, or visitation rules.

Ultimately, Redbridge Council made the decision that the proposal was ‘unlawful’. They said it would not provide meaningful benefits for the borough. This is important to keep in mind if you’re thinking about any kind of project, including HMO conversions, renovations, and new builds.

Learn about guaranteed rent in Redbridge

The right kind of investments can provide a fantastic ROI. However, you need to think carefully about what you want to do. You could actually end up wasting money pursuing plans that are unlikely to get permission.

If you are trying to decide what to do, you should have a look at the services we offer. We’re the top provider of guaranteed rent in Redbridge and other parts of London. It’s a great option for many investors, providing stable income and property management. Crucially, there are schemes from various councils in the city because all areas need more accessible housing for locals.

So, get in touch and talk to us about guaranteed rent and more.