Work to provide a new home for Bristol’s most historic musical instrument stores, with a purpose-built accommodation block for 135 students above, is set to start early in 2027 after developers behind the project sorted out their financing.
The £40 million project, on a landmark site at the start of Stokes Croft, will see the existing home of Mickleburgh Instruments demolished to make way for a new building, which will come with new practice rooms, recording studios and a live event space to host gigs and workshops.
The family-run store, which has been at the southern end of Stokes Croft for more than 120 years, announced plans for a new building on its site back in March 2023, and obtained planning permission at the end of 2024.
Since then, 18 months on and the project has been delayed. Mickleburgh moved to its temporary new premises on Berkeley Place in just off the Clifton Triangle in November last year, but now work is set to begin at the start of 2027 on the new development to create a new, 21st century home.
Funding the work to create a new, expanded home for Mickleburgh, as well as build a six-storey block of student flats above, proved a challenge for those behind the project – but now that has been sorted, after a deal between financiers, the developers and a firm to manage the student accommodation.
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Announcing the financing package which means the development can now go ahead, Corey Dennis, the senior broker at Arc & Co, said: “This was a complex, multifaceted transaction given the scale of the project and the extensive planning process.
Mickleburgh Musical Instruments in Stokes Croft Bristol is more than 120 years old. It has moved to temporary premises near the Clifton Triangle, but will return to Stokes Croft (Image: Paul Gillis/Reach Plc)
“We carefully structured the funding package to ensure the scheme was fully capitalised while supporting the sponsor’s overall strategy. It was about finding that specific alignment between Downing and Hame Capital that truly recognised the project’s long-term value,” he added.
READ MORE: New student housing block and gig venue planned for historic Stokes Croft music store
Will Powell, the investment director at property finance company Downing, added: “We were delighted to close this significant funding package for an experienced and capable sponsor delivering a well-designed student scheme in central Bristol.
“The financing came with a number of complexities concurrent with this type of deal, and we are looking forward to seeing the project progress over the coming months. A big thanks to all involved,” he added.