The Government is considering changing investment rules to allow pension schemes to invest in unused space in commercial properties which may be converted for residential use.
If the Government went ahead with the change it would mean pension schemes would be able to invest directly in residential property for the first time.
This follows Government moves to allow developers to convert commercial premises for residential use.
The Budget says: “The Government will explore with interested parties whether the conversion of unused space in commercial properties in high streets and town centres to residential use could be encouraged by amending Investment Regulated Pensions Schemes rules.
“Any amendments would need to be consistent with sound public finances and the Government’s wider pensions strategy.”
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