Churches and other quirky properties are being snapped up by bargain-hunting developers who have been inspired by the potential to create stylish new homes or small businesses, according to property specialist Centrick.
And they believe that 2023 could be the year that creating grand designs from unloved and dilapidated religious and commercial buildings really takes off as developers look for ways to make a profit as the housing market continues to contract.
Centrick Commercial has sold four churches in the last couple of months of 2022, with all attracting several competing offers from potential buyers keen to carry out conversions. It also has a further three churches currently on the market and confidently expects sales to be completed in the new year.
The churches that sold are Halesowen United Reformed Church (URC), Kidderminster URC, St Columbas URC in Coventry city centre, and Fordhouses Methodist Church in Wolverhampton. Those still on the market are at Potters Green in Coventry, Wolstanton in Newcastle-under-Lyme, and Lawrence Lane in Cradley Heath.
Potters Green United Reformed Church, at Woodway Lane, Coventry, attracted significant interest from potential developers keen to breathe new life into the building and the neighbouring meeting hall. The property has attracted over 30 offers in excess of the £160,000 asking price. It offers significant development opportunities subject to statutory consents.
George Xydias, Centrick Commercial agency director, said: “We’ve dealt with this type of property for many years now. We hold a large database of currently active and qualified investors looking to acquire freehold opportunities whether they are conventional or quirky, such as the churches.
“We’ve recently sold four churches and have a further three under offer or still on the market, plus more in the pipeline. These are quirky and very versatile properties as they can be re-used either remaining as churches or repurposed for other uses such children’s nurseries or residential apartments, subject to securing the necessary planning consent.
“We have noticed an upsurge in interest from developers who are looking for something a little bit different to convert. These properties tend to be spacious and often have attractive period details so lend themselves to the creation of stylish new homes or businesses. They are generating lots of interest and we always receive multiple offers for them, and we expect to see even more demand in 2023.”
For more information please contact George at George.xydias@centrick.co.uk or call 0121 289 5009.
Centrick Commercial has enjoyed several recent successes with new instructions by Hortons’ Estate across Birmingham; including the newly refurbished 21 Bennetts Hill, the much-lauded Southside building by Paloma Capital and the former RBS building at 81 Colmore Row by Floreat.
Centrick has grown consistently since its inception by successfully prioritising innovation, expertise, and building trusted relationships with its clients to deliver high quality service and results. First opening its doors in 2005, the agency now has over 20,000 properties across the UK on its books and manages over £3 billion in client assets.
