Landlords could 'consider derelict property for development'

Landlords looking to expand their portfolio of rental properties could consider buying old and derelict properties and restoring them, an industry expert has said.

Recently, a developer in St Andrews purchased derelict toilet block for nearly £200,000 in order to turn it into a profitable property.

Now, Kate Griffin, the press officer for the Society for the Protection of Ancient Buildings (SPAB), has revealed that it is possible for landlords to develop older properties in way that adds to their value but does not destroy their character.

"We advocate conservative repair, which is repair which is really in sympathy with the age and style of the building, but not pastiche," she explained.

"We're not against people extending properties, as long as it's very clear that the extension is a new part of the building and the old part of the building can maintain its integrity."

However, Ms Griffin added that it was important for landlords considering restoring properties for rental to take some precautions.

"Absolutely do all of your homework … They have got very specific needs, older properties," she continued.

"Unless you're prepared to take on a big project and spend quite a lot of money, you can make quite a nasty mistake."