The purchaser, SGR Estate, plans to redevelop the site into 24 exclusive modern apartments restoring the property to its former glory. The site consists of three adjoining Victorian town houses on a 0.36 acre plot and offers the opportunity to retain the original structure whilst modernising the internal areas.
Robert Evans of Cooke & Arkwright who represented the vendor, said, “We were delighted to secure a swift sale for the vendor in this instance. This is the second substantial development site we have sold on Cathedral Road recently, where we have witnessed strong demand from residential developers looking to benefit from the highly desirable location.”
Rhys Williams of Emanuel Jones LLP who represented SGR in the transaction, commented: “The residential market in Pontcanna continues to grow from strength to strength with values increasing steadily over the past five years. Given recent commercial development within the city centre, there is increased demand for residential properties within walking distance. The success of the Cathedral House development nearby is a reflection of this and the need for high quality apartments with car parking.”
Cooke & Arkwright and Chris John advised the vendor.