Bristol Approves Plans for 434 New Canalside Flats Amid Concerns Over Expensive Rents

Strategic Insights -

Developer Studio Hive has secured planning permission from Bristol City Council to build 434 homes east of Temple Meads, with the tallest building reaching 14 storeys. The plans include split-level apartments, restaurants, bars, and a new footpath along the Feeder Canal. The development has sparked concerns over expensive rents and whether the flats will be "homes" or mere investment opportunities. Councillors debated the project, with some defending it as environmentally sustainable and others arguing it is an investment vehicle that will suck money out of the city.

Key Takeaways:

  • The development, known as the Iron Works, will feature 434 homes, with the tallest building reaching 14 storeys, across several buildings.
  • The plans include a new footpath along the northern bank of the Feeder Canal, which has always been closed off to the public.
  • Developers Studio Hive are paying £1.1 million towards new affordable housing elsewhere in Bristol.
  • The flats will be rented, with none available for sale, and will be connected to the district heat network instead of having gas boilers.
  • The development will create 16 parking spaces, but the site is a short walk from Temple Meads train station and close to the city centre.
  • The development site is a brownfield site, formerly used as a foundry, and constructing on land that used to have buildings is preferred in national planning policy than on fields.
  • The project has sparked concerns over expensive rents, with Cllr Guy Poultney stating that rent in Bristol is unaffordable and has been for a long time.
  • The developer, Studio Hive, is expected to make £13 million in profit from the scheme.

Statistics:

  • 434 homes will be built as part of the development.
  • The tallest building will reach 14 storeys.
  • £1.1 million will be paid towards new affordable housing elsewhere in Bristol.
  • 16 parking spaces will be created.
  • The development will be connected to the district heat network.
  • The rental value of the scheme is around £10 million per year.
  • Studio Hive is expected to make £13 million in profit from the scheme.

Sources:

  • Alex SEABROOK, Local democracy reporter, alex.seabrook@reachplc.com (Bristol Live, [no date])
  • Planning permission application for 434 new flats in Bristol (Bristol City Council)
  • Studio Hive website ( Studio Hive)
  • AHMM website ( Alison Brooks Architects)