Marlborough House

Bristol

This 1980’s office building, let on a short lease to AXA PPP Healthcare and producing a net initial yield of over 16%, was acquired on behalf of a UK Pension Fund.

A planning strategy was initiated to secure Permitted Development Rights for residential conversion. This was quickly followed by a detailed planning application for the extension of the building to provide a total of 106 apartments, including 6 affordable units.

Located in the heart of Bristol, close to the Bristol Royal Infirmary, the Broadmead shopping area and the University of Bristol, the project was designed with first-time buyers, students, and key workers in mind.

Significant developer-operator demand was identified for a rental based development that led to the building being sold with the benefit of a detailed planning consent to a specialist student accommodation developer-operator.

  • Type Residential / Student Accommodation
  • Size 65,000 sq. ft
  • GDV £22,000,000
  • Status Completed

“The strong income return provided excellent defensive qualities delivering an attractive running yield, which allowed us to implement a staged planning strategy that successfully exploited the supply-demand imbalance in the local residential and student markets.”

Kieran Mitchell


Director

Location

Marlborough House

Bristol

Marlborough Street
Bristol
BS1 3NY

Project team

  • Project Lead Kieran Mitchell
  • Architects AWW
  • Planners Hunter Page
  • Structural Engineers Fairhurst
  • M&E Engineers Hydrock
  • Contractor N/A

Next project

Elmsbrook
  • Location

    Bicester

  • Type

    Residential land

  • Size

    18 acres

  • GDV

    £18,000,000

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