Our Bristol office agency team has concluded the sale of a Grade II listed mixed-use property at 29-31 St Paul’s Road in Clifton, Bristol, on behalf of The Royal British Legion. The property comprises two adjacent buildings connected at the basement level.

29 St Paul’s Road provides residential/student accommodation while 31 St Paul’s Road features a licensed bar and kitchen, with the upper floors offering vacant office space and a residential/student maisonette.

The 6,364 sq ft building had become tired, presenting an opportunity to upgrade the space and repurpose the former committee rooms. Following a marketing period with significant interest, a competitive bidding process ensued, with various parties proposing different uses for the building. LSH also provided essential S119 Charities Act valuations as part of the transaction process.

Ikonic Holdings Ltd, a Clifton-based Property Company, bought the property at a sale price of £1,500,000, in which they plan to upgrade the existing residential/student accommodation and use the vacant space as their own offices. The bar, The Den and Terrace, will remain in the basement of the building.

The University of Bristol campus is close by with many houses and flats utilised as student accommodation, as tenant demand in the area is strong. Clifton is also highly sought after amongst residential owner-occupiers and is perceived as Bristol’s most affluent and prime destination.

Roxi Foster, Director at Lambert Smith Hampton, said: “The building is very well located in Clifton, close to University of Bristol, and this along with the refurbishment opportunities meant that there was a lot of interest throughout the marketing process. Numerous bids were received for a variety of uses but Ikonic Holdings are a locally based investor who are well placed to upgrade the accommodation and make the best use of the building, bringing it back to life.”

Lambert Smith Hampton acted on behalf of The Royal British Legion as agents in facilitating this sale.