Cellar/Basement Conversions for rental flats?

[Matthew_1000]

I have a cellar in one of my properties which is quite a nice size for a self contained 1 double bed flat with a separate entrance. I have a few good quotations and once converted I think it may bring me in a yield of 12%. The property is in an affluent area of Manchester.

Are there any concerns or potential problems I should look out for with this investment? Would it rent ok considering it is not in London? or better to sell?

Would love to hear some expert thoughts on this subject.

Much appreciated.

[tim123456789]

You will need to find out if it can comply with "escape route" requirements in the event of a fire.

If it can't, you won't be able to rent it as a dwelling

[Matthew_1000]

Good point! Yes checks all done regarding an escape route and Egress Window.

[Sad S]

You will be creating an additional self contained dwelling.

Therefore you will need planning permission.

You will also need to comply with building regs. Habitable rooms must have windows and adequate ceiling heights - things not always easy to achieve with a cellar conversion. Another thing to look out for is the potential for flooding, and you may be required to take special measures to diminish the probability.

[Interlaken]

Regarding the flooding mention in the last post - I assume the building is old so are there any signs that it has ever flooded - ask elderly neighbours if they remember cellar floods?

If not then there may not be a need to waste money on expensive tanking and pump arrangements. The great thing about cellars is they are warm in winter, cool in summer and generally very quiet. The downside could be ceiling height and the double plasterboarding needed on the ceiling as fire precaution for the upstairs accommodation which will reduce height further.