Mitsubishi & Autochoice, 78 Feeder Road, Bristol, BS2 0PQ

Summary

The combined site offers a fantastic development opportunity on the outskirts of Bristol city centre. The site is split between two separate plots, the Mitsubishi site (78 Feeder Road) and the Autochoice site (64-68 Feeder Road) situated on either side of Short Street, with access via Feeder Road.

Both sites occupy broadly rectangular parcels of land and are currently used as car sales businesses, with Mitsubishi occupying the eastern plot and Autochoice occupying the western plot. Each of the parcels include warehouse accommodation, as well as hard surfaced open storage land with palisade fencing securing the boundaries.

The combined site is bounded to the north by Feeder Road, with the River Avon located just beyond. Neighbouring industrial and trade counter occupiers are located to the east, south and west of the combined site.

Vehicular and pedestrian access is from Feeder Road to the north of the site, with additional potential access via Short Street.

Key Points

The Opportunity

The sites represent an exceptionally rare and exciting opportunity to acquire a well-located brownfield site with significant redevelopment potential for a variety of uses (subject to planning) in the heart of Bristol Temple Quarter.

The site occupies a prominent waterside location with fantastic views over the Feeder Canal and the recently consented Silverthorne Lane mixed use development. The opportunity offers significant redevelopment potential with a positive planning position and feasibility massing study to redevelop and deliver a scheme of significant scale which is likely to attract strong demand for a range of living uses.

The Vendor has engaged a flooding consultant to address flood protection infrastructure required for the area (see dataroom).

The site also benefits from the current income profile which supports the existing use value and provides an opportunity to underpin development potential whilst progressing the necessary planning strategy.

Planning

A detailed planning report and appraisal has been prepared by Pearce Planning and is available in the Dataroom (please contact Alan Pearce for enquiries – 07547765077.

The site is currently falls under sui generis use, occupied by two car sales businesses on separate leases.

The combined sites are currently allocated as a Principal Industrial and Warehousing Area. Emerging policy comprising The Local Plan Review and Temple Quarter Development Framework (TQDF) identify the area as a potential regenerated city quarter with various uses including offices, flexible workspaces, housing, student accommodation, and supporting services. This provides scope for the site with the potential for re-designation to mixed-use.

On the basis of the emerging policy, obtaining planning permission for residential development on the Feeder Road sites is considered realistic, with the possibility of elements of mixed use being required.

The vendor has recently put forward representation for the Temple Quarter Development Framework in March 2024.

Design Feasibility Study

Illustrative massing scheme layouts have been prepared by AWW for a residential led development and are available in the Dataroom (please contact Phil Bevan for enquiries – 07773390150).

The feasibility options are indicative only and provide context as to the scale, density and massing of a potential scheme.

Both sites are considered to have potential to accommodate a range of uses, subject to planning, including residential and alterative uses including student and co-living.

AWW have prepared massing plans which indicate the sites can accommodate the following schemes:
Residential apartment scheme – combined total of c.425 apartments over part 4 and part 10 storeys with ground floor commercial. commercial, communal, parking and ancillary.
Residential apartment scheme – combined total of c.500 apartments over part 4 and part 15 storeys with ground floor commercial. commercial, communal, parking and ancillary.
AWW have considered PBSA and have indicated a scheme should yield c.1100 student beds across both sites based on a predominantly cluster scheme at 9/10 storeys.
AWW have considered Co-Living and have indicated a scheme should yield c.950 rooms across both sites based on a scheme at 9/10 storeys.

Tenancy/Leases

The Mitsubishi site is let on an FRI lease to CCR Motor Co. Ltd with the contractual term commencing 29 November 2023 for a term of 2 years and 6 months. The passing rent is £115,000 per annum and the lease excludes the security of tenure provisions of the Landlord and Tenant Act 1954.

The Autochoice site is let on an FRI lease to Tradex Bristol Ltd with the contractual term commencing 31 March 2023 for a term of 5 years. The Passing rent is £100,000 per annum and the lease excludes the security of tenure provisions of the Landlord and Tenant Act 1954. Note if the tenant is not Tradex, the rent payable is £120,000pa (see lease).

Location