Listed Building: pitfalls or concerns that are associated with this kind of investmen

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SeanA

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I have the opportunity to invest in a listed building around Dublin 2 area of town, what are the obvious pitfalls or concerns that are associated with this kind of investment, given it is a listed building.
 
Re: Listed Building

I'm no expert but as far as I know if a building is listed then some if not all works carried out in the building require approval from some authority - the risk is that the works required to make the building viable to earn an income are at odds with it status as listed.
 
Re: Listed Building

Where a structure is protected, the protection includes the structure, its interior and the land within its curtilage and any other structures within the curtilage (including their interiors) and all the fixtures and features, which form part of the interior or exterior of all these structures. In this regard, any works proposed to the exterior or interior of the building which would materially affect the character of the protected structure or any element of the structure which contributes to its special interest, will require planning permission. What might be regarded normally as minor alterations to buildings may not necessarily be regarded as such in the case of protected structures.

For example works to walls and railings, modifications to brickwork, the removal/alternation of external and internal architectural detailing including joinery and decorative plasterwork etc. requires planning permission.
 
Re: Listed Building: pitfalls or concerns that are associated with this kind of inves

Right Pantone has answered your question. I am an expert (self made !!), as I own a property which is a Listed Building. Tell me are there tenants in the property ?
If so what are the terms of their lease. Who is responsible for the repairs in and out, up and down. What other questions do you have ??
 
Re: Listed Building: pitfalls or concerns that are associated with this kind of inves

The property is unoccupied at the moment in realtively good condition but I plan on doing a small amount of work to perhaps be able to improve my return.

I understand that any lease should be a full repair and insurance lease.

Is it easy to get the necessary qualified repair men if required for internal structures, cornices, staircasing etc in the event of an accident. Is it easy to obtain insurance on listed buildings or is it more expensive?

Thanks for your response so far.
 
Re: Listed Building: pitfalls or concerns that are associated with this kind of inves

I'm sure there are some register of appropriately trained tradesmen but not sure where maybe try the Georgian Society.

With regard to the insurance, there shouldn't really be an issue in obtaining cover, it's just a case of getting the right cover and having the right sum insured given the type of building it is. One thing to be aware of is that almost all policies are on a new for old basis, which basicaly means they will replace lost property with new materials, not always suitable! You may want to consider what's called 'First Loss' cover depending on the size and type of building, ask your broker to explain it if suitable.

Or there is a new product coming to the market which does allow 'Old for Old' cover, far more suitable. PM me if you want further details.

Regards,

Michael

[broken link removed]
 
Re: Listed Building: pitfalls or concerns that are associated with this kind of inves

Thanks for that Michael, just sent you a pm.
 
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