FOR SALE

Whitchurch Lane, Bristol BS14 0TJ

Offers in excess of £8,750,000

Description

The property comprises a self-contained office building (B1(a) Use Class) which extends to approximately 87,079 sq.ft. GIA across ground, 1st and 2nd floors. The building incorporates full height roof spaces which extend to 21,204 sq.ft. GIA, giving a total internal area of circa 108,283 sq.ft.

The building occupies a site area of approximately 3.7 acres which includes 192 surface level parking spaces. Vehicular access is taken via a shared access directly from Whitchurch Lane.

The property forms part of a larger office complex known as Parkview Campus. The remainder of the buildings within the complex are due to be converted to 467 apartments and retained as a private rented sector scheme.

The property is currently fully vacant.

Location

The property is located on Whitchurch Lane, approximately 2 miles to the south Bristol city centre. The site is well related to a range of services, employment opportunities and other facilities including Hawkfield Way Business Park, Hengrove Leisure Centre, Hengrove Leisure Park, Symes (Hartcliffe) District Centre, convenience shops at Belland Drive, Whitchurch (Oatlands Avenue) District Centre and Imperial Retail Park.

Bristol has a population of circa 460,000 and benefits from a strong and growing economy which is built predominantly on creative media, electronics and aerospace industries. The city has two universities; the University of Bristol and the University of the West of England.

A rapid transport bus stop is available at Hengrove Park (125m) which provides a service to Bristol City Centre. The city itself is connected to London and other major UK cities by the M5 and M4
Motorways, and benefits from an international airport (located circa 6.5 miles from the property).

The nearest train station is Parson Street which is located approximately 1.9 miles to the northwest of the property. Bristol’s main station, Temple Meads, is located circa 3.3 miles to the north of the site, providing direct links to London Paddington in around 90 minutes.

Development Potential

PRIOR APPROVAL CONSENT

Prior Approval was granted on 25th June 2018 (ref: 18/02208/COU) for conversion of the entire building (including the roof space) to provide a total of 162 apartments via Permitted Development Rights.

The proposed scheme comprises 44 x 1 bedroom and 118 x 2 bedroom units extending to a total NSA of 87,016 sq.ft.

130 apartments (40 x 1 bedroom & 90 x 2 bedroom units) are created by converting the office space across the ground, 1st and 2nd floors, with an additional 32 apartments (4 x 1 bedroom and 28 x 2 bedroom units) provided within the roof spaces.

ELEVATIONAL ALTERATIONS CONSENT

A detailed planning application was approved in August 2018 (ref: 17/05826/F) for elevational alterations to the existing building, including the formation of windows and dormers to the roof space.

This planning consent allows the implementation of the 32 apartments proposed within the roof space.

No CIL liabilities or Section 106 obligations are applicable.

FURTHER DEVELOPMENT POTENTIAL

There may be potential for comprehensive residential development within the car park areas, subject to planning permission.

Proposals have been drawn up to develop circa 230 apartments and commercial space on the car park site to the immediate west of the property, and several other developments are proposed in the immediate vicinity.

Tenure

The property will be sold freehold with vacant possession on completion.

VAT

The property is elected for VAT.

Terms

Offers are invited in excess of £8,750,000. A purchase at this level reflects a low capital value of £81 per sq.ft. based on the GIA.

Additional Information

Further information including planning and legal documents are available within our dataroom using the access code ‘Parkview’.


Disclaimer - Kingsbury on its own behalf and on behalf of the Owner / Landlord of this property whose agent Kingsbury is, gives notice that this document does not constitute any form of contract for sale or lease. Statements should not be relied upon, and interested parties are advised to satisfy themselves as to the correctness of each statement. Kingsbury is the trading name of Kingsbury Investment & Development Consultants Ltd registered in England No: 06869268.


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  • Vacant B1(a) office building extending to approximately 108,283 sq.ft. GIA over 3-storeys plus roof space on a 3.7 acre site, benefiting from 192 parking spaces
  • Prior Approval for conversion to 162 apartments (44 x 1 bed & 118 x 2 bed units) totalling 87,016 sq.ft. NSA under Permitted Development Rights
  • Detailed planning permission for elevational alterations including the creation of windows and dormers into the roof space
  • Located in the popular city of Bristol approximately 2 miles south of the centre, benefiting from excellent transport links and local amenities
  • Offers invited in excess of £8,750,000 for the freehold interest, which reflects a low capital value of £81 per sq.ft. on existing GIA

To discuss this opportunity further, please contact Paul Heale or Keir Goldstein on 020 7183 2529

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