This property presents a unique opportunity for renovation or investment in a sought-after area of Gloucester Road, Bishopston. Located prominently near the junction with Egerton Road, it benefits from close proximity to a variety of local amenities and robust transport links to the city center, making it attractive for both residents and visitors.
The site comes with full planning consent for the demolition of existing structures, paving the way for the construction of a new residential block that will feature both a Sui Generis House in Multiple Occupation (HMO) and a Use Class C1 aparthotel. The proposed plans include a seven-bedroom aparthotel alongside an additional four-bedroom HMO, providing significant potential for revenue generation through short-term rentals and longer-term accommodations.
With the site’s current layout, there is also room to explore further configurations or expansions, subject to necessary approvals. For those considering investment potential, rental assessments indicate possible gross annual returns of around £156,000 based on market rates—approximately £750 per month per room for the HMO and about £1,250 per month per room in the aparthotel at an 80% occupancy rate.
This freehold property is offered with vacant possession, which allows flexibility for immediate plans without tenant constraints. The floor plan provided serves as an indicative guide; interested parties should conduct their own due diligence regarding dimensions and easements.
Potential investors should also be aware of regulatory requirements concerning asbestos management under current legislation. As the property has not been specifically tested for asbestos presence, we recommend that thorough inquiries are pursued by all serious buyers.
In summary, this development opportunity encompasses not only immediate revenue-generating potential but also encourages creative reimagining suited to market demands—a rare find in such a vibrant location.
