Change of use from retail to residential could boost High Streets in the UK

Turning ex-retail premises into residential property will give High Streets in the UK a new lease of life, boosting landlords, new research suggests. Some 72% of property professionals, including investors, owners, developers, consultants, contractors, property managers and letting agents, see residential development of former retail premises as a way forward. The survey from global property technology company MRI Software, also found that 82% say projects to redevelop former retail premises to create mixed-use properties, including residential, will be a lucrative opportunity over the next 12 to 18 months.