Freehold development site - planning consent for redevelopment

FREEHOLD DEVELOPMENT SITE
A modern office building with full planning consent granted for the redevelopment of the property to provide 2 x 3-bedroom houses and a new three storey office building. In addition, the property benefits from an enclosed car park on the opposite side of Cambridge Crescent providing parking for 4-5 cars. A superb opportunity for developers to create an exclusive development in this highly sought after and convenient location.

LOCATION

The property is situated on the corner of Westbury Hill and Cambridge Crescent in the heart of Westbury-on-Trym. Other notable occupiers in the vicinity include Costa, Barclays Bank and Tesco Express.

GROSS DEVELOPMENT VALUE (GDV)

We would anticipate a GDV in the region of £1,350,000 based upon the approved planning scheme:

House 1: £500,000
House 2: £500,000
Offices: £350,000

There may also be potential to submit a revised scheme for 3 houses or 2 houses and a ground floor office with maisonette above, which is likely to increase the GDV to circa £1,500,000.

PROPOSED ACCOMMODATION

House 1 (three-bedroom townhouse): 97.6 m² (1,051 Sq ft)
House 2 (three-bedroom townhouse): 98.3 m² (1,059 Sq ft)
Offices (three storey office building): 146.8 Sq m (1,582 Sq ft)

PLANNING

Full planning consent was granted on 2 February 2022 for the redevelopment of site/property to provide two dwellings (2 x 3-bedroom houses) and a three storey office building under Application No. 20/05326/F.

LOCAL AUTHORITY

Bristol City Council.

TENURE

The property is for sale on a freehold basis with vacant possession.

COMMUNITY INFRASTRUCTURE LEVY (CIL)

The CIL has been calculated at £13,923.25.

ENERGY PERFORMANCE CERTIFICATE

Rating: E

VAT

All figures quoted are exclusive of VAT unless otherwise stated.

VIEWINGS

Strictly by appointment with Maggs & Allen - 0117 973 4940.