Commercial property conversions open door to quality new homes

NPP_8910A multi-million pound deal which saw the Sovereign Housing Group purchase 46 apartments in the former Robinsons paper factory in Bedminster demonstrates the continued strength and confidence in Bristol’s rental market.

Flax Bourton-based property agents CJH Land who brokered the deal are working on a number of other significant developments in South and East Bristol as developers respond to increasing demand for rental or buy to let properties.

CJH Land director Matthew Hiles said: “There are a number of other large development sites that we are working on which are not dissimilar to the Robinson Building which will provide ideal investment type properties.

“The forecast for the next five years is for continued growth in the rental and buy to let sectors with some reports suggesting a significant increase in rental values.

“Bristol’s increasing popularity is creating opportunities and we are seeing steady growth in rents which is attracting investors into the market.

“The conversion of the Robinson Building is a great example of a rundown landmark property being redeveloped into a prime residential property which an investor has poured millions of pounds into.

The deal has seen housing specialists Sovereign purchasing 46 apartments from property developer Urbis.

Matthew Hiles said: “This is a high quality development providing much needed rental accommodation in what is now an up and coming area of Bristol. It shows just what an excellent location Bristol has become and the resilience of the city’s rental sector.”

The former Robinsons paper bag factory and printing works was built in the 1870s. The factory and adjoining East Street Church have now been converted into more than 100 apartments and maisonettes.