The Benefits of Investing in Grade II Listed Properties

Properties of special historical and cultural importance are protected with listing status. Doing so limits the alterations that can be made to the building and preserves their heritage for future generations.

There are three possible categories:

• Grade I: This is a building of exceptional interest.
• Grade II*: This applies to significant buildings of more than special interest.
• Grade II: This final category is for buildings that are of special interest.

Most listed buildings are historic; the older a building is, the more likely it is to be listed. However, some modern buildings have also made the cut. Almost any structure, including churches, bridges, castles, and telephone boxes, can be listed.

When a building receives listing status, it cannot be altered without special permission from the local planning authority. When the alteration is permitted, the owners of the building must adhere to certain rules, such as the requirement to use specific materials or techniques.

So, while it may take longer and induce extra paperwork and costs to renovate a listed building, it is still very much possible. This is why many buy-to-let properties for sale consist of listed properties renovated to create modern, luxurious apartments.

Heap’s Rice Mill, located on Pownall Street in Liverpool, was founded in the 18th Century by Joseph Heap. This Grade II listed building on the edge of the city’s up-and-coming Baltic Triangle district is one of the few surviving warehouse complexes in the area. This iconic building is currently being delicately refurbished to house a variety of luxury residential properties.

As mentioned, some investors worry that getting involved in a listed building will limit the type of upgrades that can be made. However, The Mill proves that completely modern and high-spec renovations are achievable. The property will even have luxury facilities such as a state-of-the-art spa and rooftop terrace, showing that possible alterations to listed buildings are not as limited as many may think.

The same can be said of energy-efficient upgrades. Many investors worry that a listed building will not be energy efficient and that installing eco-features will not be permitted. But, it’s not uncommon for listed buildings refurbished as residential properties to have green upgrades sensitively fitted by savvy developers.

The Mill will benefit from low-carbon technologies such as solar panels, air source heat pumps, a smart boiler system, and a mechanical ventilation heat recovery system.

When renovating the property, the developers have adhered to the building regulations surrounding listed assets. After completion, the management service will fully manage and maintain the property within the given regulations, so investors in these apartments do not have to worry about these restrictions.

Further Reading: The RWinvest UK property investment guide will help you explore apartments for sale in Liverpool and the latest market trends.