Back in November, I blogged about D1 Property – what it is and who needs it. I touched upon the C2 property class, which provoked some interest, so I though it would be worthwhile putting together another blog post, specifically about C2 property
What is C2 Property and how is it different to D1?
The C2 use class, like D1, is also institutional in nature and covers the same types of uses as D1 property. The difference between the two is that the C2 use class covers buildings in use with a residential element. For example, where a medical use has a residential element to it, such as hospital or care home, the building will fall under a C2 use class. Other examples include religious uses with residential elements such as convents or monasteries, or an educational use, such as a boarding school.
The Care Home Market
The interesting thing about C2 use properties, is their relevance in the market today. The biggest demand for sites (rather than buildings) for a C2 use will come from the care home market. Due to the Care Quality Commission (CQC) assessments and regulations, care home developers now prefer to purpose build new homes, rather than try and convert old schools, convents or small hospitals into a number of standardized bedroom and bathroom suites.
Older monastery and school buildings
So where does this leave expensive to run, old fashioned and austere buildings such as monasteries and schools, or for example, the former missionary training centre we recently sold in Mill Hill? (see photo)
It is no longer the fashion for religious charities to hold and maintain such buildings with many groups preferring to dispose of these assets and move into more modest, modern and cheaper accommodation. In doing so, the money raised from a sale can be better put towards their charitable objectives, rather than a new roof, or the heating bill.
So when these properties come to the market, who is attracted to them? The most obvious answer in the current market is residential developers, with the subsequent planning application either difficult or very difficult, depending on which Local Planning Authority the developer is dealing with. Another type of buyer has also come into the frame though, and that is boarding schools. Over the last year, we have received numerous requests from boarding schools for property and are now in discussions with a number of schools over various sites across the south east.
If you require a C2 use property for any type of use whether it be educational, medical or religious, please do get in touch.