W2 Paddington & Bayswater — Property Development

W2 covers Paddington & Bayswater in London (Greater London). Prime central — Paddington Basin commercial-to-resi hotspot.

Local market snapshot

• Average property value: £925,000
• Indicative gross rental yield: 3.6%
• Council planning regime: Gateway 3

Local authority: City of Westminster — Gateway 3, Article 4 active, average build cost £3400/sqm.

Hot strategies in W2

• Commercial to Residential (Class MA) — Permitted development and Class MA prior approval rules
• Listed Building Conversion — Converting Grade I and Grade II listed buildings
• Airspace & Rooftop Development — Adding floors above existing buildings

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