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Gloucestershire Business News

Cheltenham-based business to move into new £185,000 per year High Street office

A tenant has been secured for a £185,000 office development on Cheltenham's High Street.

Property investment and asset management specialist Addington Capital have secured the letting for 109-117 High Street, next to the John Lewis store.

The first floor will be occupied by Just Go Travel, who have taken over the 7,400 square foot space at a rent of £25 per sq ft.

Just Go Holidays have been based in offices at Festival House, but the move will give them newly-redeveloped office space in a prime High Street location.

Addington originally acquired the former retail block in 2015 with its joint venture partner and has recently redeveloped the upper parts.

It has converted the redundant upper floors, creating modern office space and a new courtyard at first floor to overcome the deep floor span.

The second floor 3,700 sq ft office suite and two retail units on the ground floor, circa 9,000 sq ft, are still available for let.

Tim Cornford of Addington Capital said, "We have re-purposed this old tired retail building to provide contemporary office and retail space and it is great news that we have already secured a tenant for a majority of the office space, prior to completion of the development.

"There is also good demand for both retail units, with discussions ongoing with a number of national retailers.

"Cheltenham is a thriving regional town and the demand for quality real estate space continues to steadily grow."

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