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Gloucestershire Business News

NEW ERA: Council signs off civic offices sale

Former Gloucester City Council offices are to be sold off for £610,000.

Civic chiefs have agreed to accept a bid for the freehold of the building at 92-96 Westgate Street from a "well known" local business.

They have not revealed what the prominent city centre property will be transformed into.

Formerly used as the council's appointments area and known as The Gateway, the building has been vacant since the council moved the service last summer . It was relocated to Eastgate Shopping Centre to reduce annual running costs by around £80,000.

The now empty building neighbours the Dick Whittington's pub, is around the corner from Gloucester Cathedral and 200ft from Shire Hall.

The council decided selling the property was "less risky" than leasing it out as it would have to compete with modern buildings such as the Forum and had annual running costs of £115,000.

It had hoped to achieve up to £700,000 for the site which it said would be reinvested into other projects in the city.

It marketed the site on the open market in the autumn with a guide price in the region of £650,000.

The three-storey brick building has a 56.7 sq m (610 sq ft) self-contained retail unit and offices on the ground floor with further offices on the upper floors.

Janes Pantry occupies the ground floor of number 96 and has signed a 10 year lease renewal at a rent of £7,800 per annum.

The deadline for bids closed on February 19 with three offers ranging from £585,000 to £610,000 with potential buyers suggesting uses ranging from solely commercial to mixed use to residential.

On Wednesday night the cabinet agreed to accept the highest of three bids for the property.

The sale is due to go ahead with the condition that the coat of arms and mural on the Three Cocks Lane wall is retained.

No other restrictions have been placed on its future use.

Council bosses said they choose the highest bid which will use a mortgage rather than a cash offer.

They have not named the preferred bidder but said it is a "well known local business".

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