In this episode of the Scottish Property Podcast, Steven is joined by Fraser Walsh, an architect with over 20 years’ experience and co-founder of W9 Architects, to explore what really happens when investors move beyond buy-to-let and into commercial property and complex conversions.

Fraser shares a behind-the-scenes look at commercial-to-residential projects, planning risk, listed buildings, and why even seasoned investors can get caught out when scaling up. Drawing on his experience working with major housebuilders, Scottish Government, and his own property investments, Fraser explains how projects can be de-risked, phased, and structured to stack up financially.

This episode is packed with practical insight for investors looking to move into commercial conversions, apart-hotels, guest houses, and mixed-use projects — and avoid expensive mistakes along the way.

Episode Highlights:

• Why commercial conversions are a completely different challenge from buy-to-let

• The biggest risks investors underestimate when scaling up

• How to buy property subject to planning to reduce exposure

• Planning vs building warrant: what really causes delays and cost overruns

• Fire safety, sprinklers, sound insulation, and compliance costs explained

• How to assess whether a commercial building is viable — or a deal-breaker

• The importance of phasing developments to create early cash flow

• Lessons from large housebuilders that property investors can apply

• How networking accelerates learning and unlocks unexpected opportunities