Whilst the past few years have been quite tumultuous in the country’s political and economic scenes, affecting many property sectors, the demand for church properties has strengthened in many locations.
In our charities consultancy team, we have noted increased demand when bringing new church properties to the market. The sale of a church in Queens Park, for example, saw over 125 different parties inspect the property before a strong bidding process resulted in a sale which almost doubled the client’s price expectations. This has even been the case with demand for some of the less obviously desirable properties in not so popular locations.
Interest has come from a complete spectrum of faith groups as well as other D1 users such as schools, nurseries, dance studios and exhibition halls. These parties are facing increased competition from developers looking to create residential developments or mixed-use redevelopments. Demand from faith groups in particular, who are looking to be owner occupiers, has been so strong that they have secured sufficient financial resources to out-bid these developers.
The distinctive history and characteristics of these properties are adding to the allure for many, and often the sites are repurposed from their original use whilst maintaining the D1 planning use. As our social climate evolves, so the community buildings are finding new use with a change of owner. Churches which have become redundant and would have been left to depreciate are receiving a new lease of life particularly in the education sector.
We have been equally busy with new lettings of D1 properties for use by a variety of pre-school activity providers as well as a mix of fitness and lifestyle service providers.
Rapleys is very pleased to have been appointed by Manchester Diocesan Board of Finance as property consultants for both their glebe and investment properties.
This appointment reflects the high level service provision from each of our six national offices where amongst others, we already work with the Baptist Union of Great Britain, Thames North and North West Synods of United Reformed Church, and Church of England diocese including Southwark, London, Ely and Chelmsford.
For any more information on the charity property sector, please contact Graham Smith.