- Grade II* listed building in prime, town centre location
- Unique opportunity for redevelopment
Cheltenham Borough Council has listed its Municipal Offices for sale. Global real estate firm, Avison Young, has been appointed to market the property.
The 68,290 sq ft, Grade II* listed building is an iconic landmark, at the heart of the Regency town centre. The council has been in the building for 100 years, and Avison Young is now seeking a purchaser that can respect the heritage of the property whilst securing the optimum use for the building, now and into the future.
Avison Young has been working on a strategy to bring the building to the market over a period of several months and will work with the council on a period of community engagement prior to the new occupier moving into the property.
The historic building is an attractive opportunity located in the heart of the town centre, with the potential to be converted into multiple uses including commercial, office or residential space. Cheltenham is a thriving town, known for its culture, retail and restaurant offer with strong footfall and low town centre vacancy rates. The world-famous festival calendar includes horse racing, literature and music among others and is a major draw for visitors throughout the year. In addition to an affluent regional catchment, in 2022, Cheltenham welcomed just under two million visitors from further afield who spent almost £164 million in the town.
Cheltenham Borough Council is committed to safeguarding the building and respecting its heritage, whilst taking the opportunity for a purchaser to make improvements and create space for future opportunities.
Daniel Rich, Director at Avison Young said: “This historic building is significant and represents an unrivalled opportunity for prospective purchasers in the heart of Cheltenham. We’re anticipating strong interest from potential developers who want to take this heritage property into the future.
“We’re committed to working with the Council to find the right occupier who will respect this iconic Regency building, with a conservation-led approach to modernising, and we’re also engaging with stakeholders to ensure viewpoints are heard before a sale is made.”
Councillor Rowena Hay, leader at Cheltenham Borough Council, described the sale as a ‘magical opportunity’ to put the historic building back on the map.
Councillor Hay said: ‘’This is an exciting time. Cheltenham is an ambitious place and we can’t wait to see what this opportunity will deliver. The social, economic and environmental benefits that will come with appropriate redevelopment of this much-loved, iconic building will allow our town to evolve and prosper.
“This also presents an exciting new time for the council and whilst we are committed to retaining a town centre presence for our customers and to further improve our services, we know that the time is right for us to step aside and see a new future for the Municipal Offices.’’
Expressions of interest for the Cheltenham Municipal Offices can be made to Avison Young: https://www.avisonyoung.co.uk/
