0 Bed Residential Development For Sale

A development site situated in a highly desirable location on Gloucester Road, Bishopston.

Full planning consent has been granted for the demolition of the existing buildings and construction of a single residential blocking comprising a Sui Generiss HMO and a Use Class C1 aparthotel.

The scheme provides for a 7 bed aparthotel and a further 4 bedroom HMO, although offers potential for a variety of schemes, subject to obtaining the necessary consents.

Description - A development site situated in a highly desirable location on Gloucester Road, Bishopston. Full planning consent has been granted for the demolition of the existing buildings and construction of a single residential building comprising an HMO and a Use Class C1 aparthotel. The scheme provides for a 7 bedroom aparthotel and a further 4 bedroom HMO, although offers potential for a variety of schemes, subject to obtaining the necessary consents.

Location - The property is situated in a prominent position on Gloucester Road in Bishopston, close to the junction with Egerton Road. A wide range of local amenities are available on Gloucester Road and excellent transport links are provided to the city centre.

Aparthotel - This is 'a set of apartments where you can stay for a short time that offer services like a hotel, for example tea, coffee, towels and cleaning services'.

Tenure - Offered for sale on a freehold basis, and with vacant possession.

Floor Plan - The floor plan is provided for indicative purposes only and should not be relied upon.

Planning - Application No: 22/01385/F

Proposal: Demolition of all buildings and construction of single residential block comprising a sui generis HMO, and a Use Class C1 aparthotel with associated external space, refuse and cycle storage.

Date of decision: 6th January 2023.

Potential Rent - There is potential to create a further/8th bedroom in the aparthotel and our client has obtained a rental appraisal on this basis, from an established HMO/aparthotel specialist. They anticipates a rent in the region of £750pcm per room for the HMO, and circa £1250pcm per room in the aparthotel (based on 80% occupancy).

Based on a 4 bedroom HMO and 8 bed aparthotel this therefore equates to a potential gross annual rent of £156,000pa.

Vat - All figures quoted are exclusive of VAT unless otherwise stated.

Viewings - By appointment.

Control Of Asbestos Regulations - As per the Control of Asbestos Regulations 2012, the owner or tenant of the property, or anyone else who has control over it and/or responsibility for maintaining it, must comply with the regulations which may include the detection of and/or management of any asbestos or asbestos related compounds contained at the property. Maggs & Allen has not tested or inspected for Asbestos and therefore recommend all interested parties to make their own enquiries.