New build or conversion? Stakeholder preferences in inner city residential property development

This research aims to analyse the preferences within key groups for the conversion of existing buildings or the construction of new buildings for private residential purposes in Sheffield city centre.

A literature review analysed the factors which have increased in importance and influenced the choice between city centre private residential conversion and new build. Interviews with professionals including developers, planners and property agents, the key stakeholders and in this case, practitioners within Sheffield, examined the sustainability, technical and financial issues in the residential property development.

The results revealed that developers preferred new build for city centre private residential development. Though the urban planners of Sheffield had no preferences, they encouraged the reuse of buildings, but due to a scarcity of suitable redundant buildings for conversion it is inevitable that the city will see new build on the cityscape in future.

As the housing market loses the impetus of recent years the predictions made in this paper will provide useful advice to property developers in avoiding costly investment mistakes.

This study provides a case study upon which to base similar studies of residential urban regeneration projects in other locations.