Just logged on after a while and this post caught my attention. In principle the idea is sound but there are (as ever) stumbling blocks. Benefit - the true benefit of an 'Estate Management Policy' which is what you are suggesting in a retail sense comes only from contiguous ownership. Put briefly if you own a block of property, or even a street then you are in the best position to control the tenant mix (as far as the current legislation allows). Think about the London Estates - The Crown, Grosvenor, Portman and Howard de Walden and how they have changed their portfolios over the past decade (Marylebone High Street is one of the best eg?s) Second issue is cost! No 6 LL is on the market for circa ?1M. Imho, you let the grd floor for at best rent achievable say ?40K (that?s before you start to think of discounting the rent in order to get a suitable ?non chain? tenant). What have you got then? 2 floors of approx 1,000 sq ft currently used as offices. Change of planning (overcoming local objections!) to residential, convert to 2 X 2 bed flats. What are they worth above a shop? ?250K? (less cost of works) Total value created ?1-1.1M, less; Build costs Transaction costs Finance cost Void costs (ie on unlet space) I can?t borrow money on this scenario, but some can. Undoubtedly someone will take a view on my costs and bid over the asking price. Possibly someone with a track record in the area and existing lines of finance ? you know who I mean! The figures are very rough and ready and open to criticism but you get the picture! The parade that was mentioned in an earlier post by Snorky was in an auction with a guide of ?1.5M. There were some cute things you could do with it, ?work the planning? on the rear yard, refurbish the residential (as is being done), but again it comes down to cost and borrowing. From memory I looked at it (as an exercise) and felt I/one could have bid up to approx ?1.8M. What did it sell for? ?2.5M! Undoubtedly to a cash buyer. I don?t think finance was an option because of the low initial rent roll. You may, as do many, subscribe to the view that hash recession is needed to bring value back to the market. That?s ok if we all keep our jobs/homes etc. Perhaps as a syndicate we could reconvene after such even and buy cheap, but going back to the essence of the post (which I wholeheartedly support) the philanthropic aim to promote LL as a vibrant unique retail offer does not always sit comfortably with the profit motive! Sorry for such a long post but the postie hasn?t delivered my Property Week yet and it?s a slack Friday morning!!!? geh