Potential to create 6 flats (C4) and 2 retail units
Excellent location for student lets
VAT is payable on the purchase price
Sought after location
Formerly the Spring Garden pub the property is now offered with planning consent to offer 6 flats (C4 use) and 2 retail units. This is an excellent location for student lets and could be a very high yielding investment once completed.
The property is situated in a prominent position on Hotwell Road (A4), a main route into Bristol City Centre. Located in the Harbourside part of Hotwells, just below Clifton Wood, the property benefits from a range of local shopping facilities as well as a more comprehensive range in nearby Clifton Village, approximately 1 mile away. Bristol University is within two miles.
This is a substantial Victorian building formerly The Spring Gardens pub. Most recently the ground floor has been refurbished to offer a substantial ground floor A1 retail user and the upper floors have been stripped out ready for refurbishment. Planning permission has now been granted to extend and alter the building to provide two ground floor retail units and 6 flats above with C4 (HMO) consent. There is significant potential to revise the scheme and increase the residential accommodation. This is a substantial building suitable for a variety of different uses from offices to a place of worship should the need arise, subject to the necessary planning consent be obtained.
Planning permission has been granted under application 13/02090/F on 11.04.14.
The proposed scheme allows for the sub-division and extension of the property to provide:
2 x Ground Floor A1 Retail Units
1 x 3 Bed Apartment
3 x 2 Bed Apartments
2 x 1 Bed Apartment
With C4 residential consent (HMO use) on the upper floors.
The scheme makes provision for the existing side extension to be demolished and rebuilt as three storeys as well as the conversion of the existing roof into a mansard roof to provide an additional floor.
Community Infrastructure Levy (CIL)
CIL has been calculated at £3438.62 and is payable upon the commencement of works to Bristol City Council.
The ground floor of the building has had a considerable amount of work carried out. A full schedule is included in the legal pack and includes such works as:
Re-wired as two shop units and communal hallway
Damp proofing and tanking carried out by Brunel
Sound proofing boards to the ceilings
VAT is payable on the purchase price.
The plans can be viewed at:
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