For obvious reasons most property investors like fixed predictable returns from their portfolio and the additional risk associated with developing unusual properties is not for everyone. However, with life now returning to the development market and a scarcity of supply in some parts of the country, quirky and unusual sites are becoming an increasingly more viable option for those with the appetite for a bit of risk.

An unusual property is still a property and subject to the same rules as every other property in the land. However, unusual properties tend to magnify the typical issues which come up in a development because of their unique characteristics and the extra cost that these can add.

With the decline in industry in the UK in the last 40 years, many of the unusual development opportunities in the market involve converting industrial sites into different use. I have some first-hand experience of this from when I was involved in some projects in the Regents Canal area of Islington, which saw a huge number of former factories converted in spacious loft apartments. This made a feature of the buildings industrial character but presented its own unique challenges.

The planners at Westminster and Kensington & Chelsea have for years been dealing with applications for deep basement extensions to properties in their boroughs. Now the Ministry of Defence is bringing the old Brompton Road Tube station to the market and is reportedly hoping to achieve around £20m for it. The successful buyer will have a large number of practical and legal challenges to overcome in order to put this space into commercial or residential use, from planning and environmental to fire and safety.