RBPCoverDoc

RUMFORD

BRIDGENS

PRICE

Project Information

Rumford Bridgens Price acquired full planning permission from Bath and North East Somerset
Council 25th September 2015. Details of the application are available by visiting
http://isharemaps.bathnes.gov.uk/projects/bathnes/developmentcontrol/
then by searching in the search bar for ref “Monmouth Place” or by locating the application
15/02815/FUL.
For ease, the existing and proposed floor plans can be downloaded here
http://www.bathnes.gov.uk/planningdocuments=15/02815/FUL

The planning permission allows us to create 4 exclusive apartments within the existing structure at 4
Monmouth Place, Bath, BA1 2AT. The development will begin mid December 2015 and is expected
to be completed by May 2016. Although we don’t intend to market and sell off plan we are greatly
encouraged by already having had serious interest and enquiries to purchase through our local
channels here in Cambridgeshire.
Our recently finished conversion of commercial offices to luxury apartments can be viewed by
visiting the gallery section at http://www.buildingoninvestments.co.uk/
We also have a larger photo collection of the same project here
https://www.flickr.com/photos/rumfordbridgensprice/

Redwood Conversions is our Cambridgeshire based contracting arm which has been involved in
restoration, refurbishment and house extensions for just over 10 years. The logistics of the Bath
project requires us to adopt a different dynamic whereby Redwood Conversions will be on site and
be working closely with local Bath based contractors ensuring a high quality and timely execution.
Rumford Bridgens Price will assume it’s’ usual management role, responsible for project and
financial planning, marketing, sales and strategy.
You can view Redwood Conversions website here http://www.redwoodconversions.co.uk/

Due diligence

As part of our management responsibilities Rumford Bridgens Price has completed many
investigations at varying stages of our acquisition process which have enabled us to progress thus
far.
Our initial, subsequent and penultimate calculations have proved to be realistic throughout and we
are pleased to enclose below our projections of gross development value for Monmouth Place.

Ground floor & Basement masionette 2 bed (1358 sqft) - £450,000 = £342 / sqft
1St Floor apartment 1 bed (524 sqft) - £215,000 = £410 / sqft
2nd Floor apartment 1 bed (370 sqft) - £180,000 = £486 / sqft
3rd Floor apartment 1 bed (397 sqft) - £180,000 = £453 / sqft

We always approach our projects with a conservative to realistic view point so to preserve and
prolong the relationships of those that we work with and indeed our reputations.
This notion will be further supported on the following pages where you will calculate a couple of the
agents who’ve been out to the property as being mildly to significantly higher in their estimations.
During the early stages of our investigations we contacted 6 local sales agents, this was honed to 3
agents who came to site and were asked to provide evidence for their estimations.
It’s perhaps useful to know that we did not invite Andrews estates agents of Bath to site, yet we
have included their gross development projections / evidence for contrast purposes only.