A purpose-built student accommodation (PBSA) development opportunity in Temple Quarter Bristol has been put up for sale.
The 1.063-acre Freestone Island freehold site, which is located directly opposite the University of Bristol’s Temple Quarter Enterprise Campus (TQEC), is demolition complete and fully implemented and remediated, meaning the new owner can break ground immediately.
The consented scheme will comprise six self-contained studios and 494 ensuite cluster rooms across three blocks, along with approximately 4,800 sq ft of ground floor commercial space. The on-site amenity provision will include a gym and studio, cinema and karaoke booth, multiple study areas, communal lounges and four external courtyards.
There is a Section 73 minor amendment application in progress seeking a further uplift to 518 bed spaces or feasibility options to consider an alternative mix of studios and cluster rooms.
Nic Rumble, senior director at CBRE, which has been appointed to market the opportunity, said: “It’s extremely rare to be able to offer such a well-located, consented PBSA opportunity that is immediately ready to commence construction in Bristol. The demolition has been completed, the site is remediated, Gateway 2 approved, and even part of the CIL payments have been paid.
“‘This is as build-ready as you can get. Couple that with a super-prime location directly opposite a brand new university campus, in the middle of the UK’s largest regeneration project, and you have a site that we hope will be of interest to the development markets. The structural demand for student accommodation in Bristol is not going away; this is a rare opportunity to step straight into it.”
The property is being offered for sale by informal tender with CBRE also welcoming alternative proposals subject to the Section 73 application, including forward funding or joint venture structures.
