In the 1990's various companies including
Sapcote developments began buying and converting old schools and council buildings which were proving to be too expensive to maintain. Examples of these are 'the paragon' SE1 and 'the village' SW11. The buildings were converted into what is known as 'shells' which are basic spaces with all the utilities supplied in one place. The purchaser would then develop the inside of the space themselves or with architects. This led to unique and stunning spaces to live in. The combination of the historic building with high ceilings and period features working with very modern design led to a 'lifestyle' image of loft apartments. Other companies such as manhattan lofts produced pre fitted lofts which include loft features but tend to have similar look and feel to each otherThe first lofts sold as shells were huge spaces sold at very low prices. The pioneers of this new concept undoubtedly made large amounts of money. The 1st generation of loft livers make money through the added value of the 'fit out'. The fitout can cost as little or as much as you like there is a basic minimum of about £30k required to provide the basics like heating, lighting and plumbing. The lifestyle image of loft living has let to many lofts being fitted to very high specifications and with designer fittings. As there are very few shells being sold today there is a reduced opportunity to make the big bucks but shrewd investors can still improve or refit some of the less well developed ones. Some of the original lofts, which were very large, can be split or extra bedrooms added.
Once developed there are ways to capitalise on the current interest in loft living through photo shoots or film/tv staging. This can be quite lucrative.
Typically, high ceilings with galleries or light wells and open plan living. There are loft houses which have been converted to add such things as galleried bathrooms and offices. Just taking some floors out and opening up vertical space can create the same effect as loft living.
Loft living is not for everyone, it is an open plan lifestyle where space and light is more important than rooms. Families can find it difficult to find lofts with enough bedrooms so there tends to be a convergence of people who appreciate the same aspects. This leads to a sense of community which is rarely seen in London today. There is a significant Gay following in Lofts as the lifestyle image develops. As most of the old schools have now been developed, there is a move to other interesting spaces such as churches and warehouses.
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