Pre 63

Pre 63’ offer investors the opportunity of higher returns but are more complicated deals to execute

Rona Dina Belo

19 Jan 2023 — 1 min read

When talking to estate agents about potential acquisitions, and because we focus on “value add”, Pre 63’ is often a term that ends up in the conversation. This post aims to describe Pre 63’ and some considerations before investing in this space.

What is Pre 63?

The term Pre 63’ is used to describe any building that was converted into multiple units prior to the introduction of the Local Planning and Development Act of 1963. Since this act was introduced property owners have to seek planning permission to convert a building into multiple units. Pre 63’ investments, offer investors the potential of decent returns if purchased correctly, due to the higher rental yields on offer.

Some Investor Considerations

Pre 63 declaration: Before purchasing, It needs to be clearly evidenced that a building was converted into multiple units prior to the Local Planning and Development Act of 1963, or the building will not be classified as Pre 63’.

Increased standards: Owners are required to ensure Pre 63’ buildings are up to modern planning, fire and local housing standards. Any oversight of this requirement could result in non-compliance and/or significant Capital Expenditure to correct.

NPPR: The Non-Principal Private Residence tax introduced by Revenue around 2009, is applicable to each individual unit within a Pre 63’. Before purchasing, an investor should ensure that previous NPPR submissions reflect the number of units in the building or face significant tax liability after deal close.

Debt partners: Underwriting these types of deals, could be deemed too complicated for some debt providers, so liquidity levels in this area of the market are probably a lot lower than other investment types.

To Conclude:

Pre 63’ buildings offer investors the opportunity to make attractive returns on their investment. But completing these deals can be complex to navigate and difficult to execute, so investor caution and diligence are recommended.

Rob Heffernan

Why Enduring Ideas Matter More Than Novelty

In our rush to embrace the new, we often overlook a powerful form of curiosity: wondering about what endures. While 95% of new products fail within their first year, certain ideas and systems have persisted for centuries. This surprising resilience offers strategic insights that innovation-obsessed companies frequently miss. Consider the

The Power of the Polymath

In a world of increasing specialisation, the idea of being a polymath—someone skilled in multiple fields—may seem outdated. Modern academic systems have often favored specialists, but in reality, the polymath has never been more relevant. Consider figures like EO Wilson and Jared Diamond, who not only mastered their

Our Story

SingleStep builds and invests across two distinct markets: financial technology and property development. The convergence of these seemingly separate worlds - one digital, one physical - reveals opportunities that others often miss. Starting in 2008, I found myself at the intersection of these two domains. In London, I was building

How Running Fuels My Businesses

Running is more than just exercise—it’s a cornerstone of my routine as a business operator. Amid the constant demands of managing multiple ventures, running provides clarity, discipline, and resilience. It’s not simply about fitness; it’s a practice that shapes my professional mindset and drives success. Clearing