Braggs Lane, Old Market, Bristol

The client was purchasing site subject to planning and then selling the deal as a package. The subsequent purchaser built-out including 33 serviced apartments.

The actual planning application was pretty vague - 1:100 elevations and plans. Possibly because it was in a deprived area of Bristol, the planners didn't ask for their usual comprehensive set of detailed drawings. Definitely as a result, the building is pretty ugly but then it did redevelop derelict land.

I was not fully privvy to the deal structure but I think the client only bought and sold the subject-to-planning option, rather than completing on the purchase. If so, the eventual resale must have represented a healthy return on the option cost and fees.

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