Ivy House, Friarn Street, Bridgwater, Bridgwater, TA6

Description - Currently the 712 Sq metre building is internally divided into its' most recent formal use as a day care centre, and the site at present accommodates parking for approximately 15 cars. There are two aspects to the site - the conversion of the existing building, and the construction of a standalone multi-unit newbuild within the curtilage.

For the building conversion, there are two alternative proposals drawn up:

A) a House of Multiple Occupancy (HMO) scheme providing 17 units (to accommodate up to 29 persons); or

B) 8 self-contained apartments (7 x 2-bed and 1 x large studio flat).

Both alternative schemes provide 8 parking spaces, and both schemes have full planning consent granted.

Within the curtilage there is also an additional proposed standalone new-build scheme for 13 x 2-bed apartments (all open market* with 13 additional car parking spaces provided) which has also received full planning consent.

In all, the site extends to approximately half an acre.

Encouragingly, other higher-density multi-flat development than the above proposed new-built element has already commenced construction towards the end of the same street (within 200 metres), which is also helping to regenerate the local area. The local planning authority have demonstrated a recent willingness to encourage such development proposals, particularly on brown-field sites.

It is therefore felt that there is good scope for additional planning gain on this site. (The vendor will be placing an uplift clause on the land to cover any additional planning that may be granted above the existing consents.)

The property site already benefits from high boundary walling to 3 sides, with a natural stream beyond the demise of the 4th. It is therefore easily possible to make the project a fully-gated development, for security/privacy and incremental GDV value to those referenced within these particulars. Technical Planning information packs are available upon request.

Additional information - Information related to the Unilateral Undertaking (section 106) can be found in the Technical Planning information pack application reference 08/20/00043.

GDV - Cooper and Tanner Bridgwater branch have carried out comparable evidence for the end values in relation to the one- and two-bedroom flats, these are as follows:

One Bedroom apartment with allocated parking - £115, 000 - £117,500

Two Bedroom apartment with allocated parking - £135,000 – £138,000

This information was collated in January 2023 based on the current market conditions.

Method of Sale - Private treaty – freehold sale

(*as long as development is commenced before December 2023)

Location - Bridgwater is a large historic market town and civil parish in Somerset, England. Bridgwater is at the edge of the Somerset Levels, in level and well-wooded country. The town lies along both sides of the River Parrett and benefits from excellent road and rail links and within the immediate area are leisure and shopping facilities. Bridgwater has experienced recent regeneration taking place throughout the town, much of this is being fed by the ongoing Hinkley Point C project. Bristol and Taunton both link Bridgwater by the M5, A38, GWR Railway line and canal.

Wayleaves, easements and rights of way - The land will be subject to and with the benefit of all rights of way, whether public or private, light, sport, drainage, water and electricity supplies and other rights and obligations, easements and quasi-easements and restrictive covenants and all existing and proposed wayleaves for masts, pylons, stays, cable, drains, water and gas and other pipes whether referred to in these particulars or not.

Viewing strictly by appointment only via Darren Woodyer, Development Manager.

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