Of course, planning is just part of the process and shop conversions take some care and imagination to get right: not all commercial premises make good homes. Avoid shops on busy streets – no one wants to live between a bookmaker and a fried-chicken shop. Some units are narrow, deep and dark, and have little or no outside space (the kiss of death in the post-pandemic housing market).

Design is key, said Jo Gale of Dexters estate agents. “Homebuyers can be suspicious of commercial conversions, so spend extra time on the design and the details – a good architect and designer will work wonders with ­awkward spaces”.

The actual building works to convert a shop or an office are quite straightforward, said Danny Rowe of builder West Space London, who converted the bicycle shop. “The building is already there and most commercial properties are well insulated, structurally sound and supplied with water and electricity. The rest is largely cosmetic,” he said.

Mr Rowe recommended budgeting £150 per sq ft in the South East and £90 elsewhere in the country, due to varying construction costs. Conversions are generally quicker and easier than new-builds, and a gentler introduction to development for newbies.

If you are looking for a conversion project, choose something quirky, recommended Katherine Mahoney, of Inner Pieces, an interior designer. “Some commercial buildings have real charm and, if sensitively converted, preserving original features and using materials and colours true to the original, can sell at a premium,” she said.

At the bike shop, she was inspired by its industrial character – the shopfront was retained, the original flooring restored and the steel Crittall-style ­windows brought back to life.