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Naismiths and Hodge Bank support restoration of WWII-damaged building

Martin Greenland | 12:30 Monday 21st May 2018

National property consultancy and surveyors Naismiths has been appointed by Hodge Bank to monitor the restoration of a Grade II-listed building in Bristol city centre.

The Cardiff-based bank has provided a seven-figure facility to developer Urban Creation to convert the first and second floors of 76 Park Street into six one-bed student apartments and undertake a major refurbishment of the ground floor and basement commercial space.

The renovation will preserve the building's original character and period features, while reinstating historic features that have been lost over the decades following severe damage to the property during the second world war.

The project monitoring team at Naismiths is currently overseeing more than £2.8bn of development funding across 400 residential and commercial projects in England, Scotland and Wales.

“Urban Creation [is] doing something entirely unique in the Bristol area, managing not just to restore the city's heritage, but at the same time provide boutique lifestyle accommodation to students and professionals alike,” said Blane Perrotton, managing director at Naismiths (pictured above).

“Equally, it's great that lenders of the calibre of Hodge Bank are prepared to take on these quirkier projects, and we look forward to working with both parties to get 76 Park Street finished on deadline.”

Andrew Button, head of investment finance at Hodge Bank, said that Bristol was a thriving city and a major UK growth hub with a burgeoning student and entrepreneurial demographic.

“What Urban Creation [is] doing is genuinely different and we are thrilled to be able to help [it] turn [its] latest project into reality.”

Jonathan Brecknell, managing director at Urban Creation, added: “In Bristol, there's significant demand from both students and young professionals for a unique place to live that combines stylish interiors with historic grandeur, and this property delivers on both those fronts, as well as offering a fantastic location on vibrant Park Street.”

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