A development site in Bristol, which could see three new homes built, will be sold at auction next month. The site, at Capgrave Crescent in Brislington, has a guide price of £185,000.
The site, which is accessed via a private access road, consists of 16 garages and is gated. Currently, 62 and 64 Capgrave Crescent have access through the land but otherwise it is inaccessible to the public.
The land, which is 0.2 acres in size, could be transformed into three houses as planning permission has already been granted for this project. It would consist of three two-bedroom homes which comes with a study.
All three properties would also benefit from a private garden and allocated parking. Planning permission was originally granted in 2018 but re-granted in 2022 after the initial permission expired. However, the current planning permission expires on March 15, 2025.
The first property would be spread over 82 sqm, including the garden. The second property has 84 sqm of space, 35 sqm of which is the garden, and would be semi-detached with the first property.
The third property, known as plot three, is set over 105 sqm and contains a 46 sqm garden. This property would be the biggest of the three.
The gross development value of the site, if the garages were demolished and properties built to a modern standard, would see the three houses worth a combined £850,000. The detached house, plot three, could be worth £300,000, whilst the two semi-detached properties could be worth £275,000 each.
Alternatively, the garages could be kept and produce an income of around £100 per calendar month each. This would produce £19,200 per annum.
The site is being marketed by Hollis Morgan and the listing indicated that the site will head to an auction on Wednesday, February 12. The site has a guide price of £185,000, an indication of what is the minimum acceptable bid, although this could rise or fall before the auction takes place.