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Gloucestershire Business News

Sale of Municipal Offices moves a step closer

The sale of Cheltenham's iconic Municipal Offices has moved a step closer, with the appointment of an agent.

Cheltenham Borough Council has appointed commercial real estate agent, Avison Young, to market the town centre building.

The offices won't be going on the market immediately, as an important first step will be for Avison Young to get to know the property.

Agents will then create a marketing strategy for the Municipal Offices, which will carefully reflect market conditions, potential purchasers and the local economy and will also consider stakeholder engagement and consultation.

The final strategy will be considered and agreed at a meeting of the full council before the Municipal Offices goes up for sale.

Cllr Rowena Hay, leader of Cheltenham Borough Council, said: "This is an excellent step forward. We are pleased with the outcome of a thorough procurement process, which has led to the appointment of Avison Young. It's great to have them on board as we move ahead with the sale of our much-loved building.

"The Municipal Offices is a beautiful building, and our ambition is to preserve it in all its glory. We are absolutely committed to safeguard it and respect the heritage of its setting, while taking every opportunity offered by modern architecture, technology and new building materials. This will allow a development that improves its surroundings and creates space for future use, leaving an appropriate legacy.

"Now that we are working with Avison Young, we can move ahead and start exploring future options for the building.''

Gordon Isgrove, principal at Avison Young, said: "This is a truly special building and, for prospective purchasers, it represents an exceptional opportunity in the heart of Cheltenham and adjoining the main retail pitch.

"We are anticipating strong interest from developers who are looking to create a very special development that benefits from this unique position."

It is expected that any sale will take two to three years before redevelopment would take place. During this time, the council will continue to occupy the offices, alongside a number of short-term lets.

Punchline-Gloucester.com said: "We are pleased to see that this is finally going on the market, as it makes perfect sense to do so, as we have already reported.

"However, we are surprised that a local or regional agent hasn't been picked to put it on the market. What has happened to 'shop local' and 'buy local', supporting local jobs and the local economy? Nothing against the company chosen, but surely local knowledge would be beneficial?"

Punchline-Gloucester.com had the chance to look round the building before it went on the market last year. Watch the video here. 

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