If you are looking to buy an old property, full of character and history, there is a chance it may have listed building status.
Listed Buildings are recognised as being of national importance due to its historical or architectural significance.
Although these properties can look beautiful from the outside, and boast stunning, historic features internally, they may come with special protections and restrictions on what you can do to them.
Their period features, such as thatch roofs and wooden beams can look pleasing to the eye, but below, we break down what you should take into consideration before purchasing a Listed Building.
1) Understanding the listing
Listed buildings are categorised into three grades in the UK:
- Grade I: Buildings of exceptional national or international interest.
- Grade II: Particularly important and of more than special interest.
- Grade II: Buildings of national importance and special interest, comprising 92% of all listed properties.
The grade level will affect what kind of work you can do on the property, as higher-grade buildings often have stricter regulations. It’s important to research what modifications are allowed and which areas of the building are protected.
2) Legal obligations
Owning a listed building comes with specific legal responsibilities. Any alterations, whether external or internal, will require listed building consent from your local planning authority.
This applies to major renovations, repairs, or even small changes like replacing windows or doors. Unauthorized work can result in criminal prosecution and hefty fines, as well as an obligation to reverse any changes made.
3) Costs of maintenance
Listed buildings often require more upkeep than modern properties. Original features, such as timber framing, thatch roofs, or lime plaster, must be maintained or replaced using traditional materials and techniques, which can be costly. Additionally, repairs often require specialist tradespeople, who may charge higher rates due to the expertise required.
It’s essential to factor in these ongoing costs when budgeting for your listed property. Regular inspections and preventative maintenance can help reduce larger, unexpected repair bills.
4) Planning restrictions
If you’re considering extending or altering the structure, listed building consent will be needed. Planning permissions for listed buildings are notoriously more stringent than for unlisted properties.
It’s important to check with the local council whether the work you have in mind will be approved. Even modern additions, like installing central heating or double-glazing, may be prohibited if they compromise the building’s historical integrity.
5) Insurance implications
Insuring a listed building can be more complicated and expensive than standard properties. Insurance companies assess the risk of owning an older building, considering factors like the materials used in its construction and the cost of repairs with traditional methods. Make sure your insurance policy covers not just rebuild costs but also the restoration of historical features.
6) Survey and specialist reports
A full structural survey is crucial when purchasing a listed building. Ensure the surveyor you choose has experience with historic properties, as they will be able to identify potential issues, such as damp, subsidence, or timber decay, that may not be evident in more modern buildings. They can also advise on any necessary repairs and their likely costs.
You may also need specialist reports, such as a heritage impact assessment, if you plan to make changes to the building. These reports will outline how your proposed alterations will affect the historic or architectural significance of the property.
Future value
While listed buildings often hold their value well, they can be harder to sell because of the restrictions and responsibilities associated with them. Be sure you’re aware of the future market for such properties in your area.
However, their rarity and historical significance often make them highly desirable for the right buyer, potentially leading to premium sale prices.
Further reading
Purchases – Oakwood Property Solicitors
WHAT TO DO NEXT
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