Three landmark warehouses in Gloucester Docks currently standing empty may well find new owners imminently – but the sites' future as an anticipated new hotel for the city looks in doubt.

Gloucester City Council, which used the sites for offices but moved out in 2019, is likely to approve the sale of leases on the Herbert, Kimberley and Philpott (HKP) warehouses, with the final move to negotiate and accept an offer from any interested party likely to be made by council executives next week.

Overseeing with the sale, agents Bruton Knowles currently states that the warehouses, dating back to 1846 and with a guide price of around £3,000,000, are "under offer".

Since the council moved out four years ago, the three 19th century buildings, which offer a combined space of 60,000 square feet (5,548 m sq) of space for conversion, have been a focus for ongoing speculation.

Details of the sale show that any newcomer will not have the run of the entire three units. The specification for the lease states: "Within Kimberley Warehouse the public house known as Doctor Foster's continues to trade and is unaffected by the disposal of these buildings. In addition, the two floors at the same level as Doctors Fosters in Phillpotts Warehouse are also excluded from the sale."

Last November, the council was reportedly in discussion with Dowdeswell Group Limited following their success in making a competitive bid to buy the warehouses. But the sale of the three seven-storey warehouses stuttered, councillors being told at the time by Deputy Leader Hannah Norman that "conditions have changed since Dowdeswell Group's successful bid, with the Covid pandemic and inflation impacting the market".

Four undisclosed potential buyers, however, are now in the frame. And according to a cabinet document, the most viable and deliverable bid is from "developer C". The council has appointed agents for the process and instructed them to prepare conditions and, contingent upon an exclusivity agreement, terms for a deposit.

The council's cabinet meeting report, for next week's decision, indicates that: "Developer C has submitted a scheme that accords with the council's aspirations, is in accordance with independent advice and has the lowest risk profile in the present market conditions."

It adds: "The developer has an excellent local track record for delivery and this bid should result in the necessary funds being paid to the council earlier than any other bid."

Cllr Hannah Norman said the council has "a long-term aspiration" to dispose of the HKP Warehouses.

She added: "The redevelopment of these warehouses, along with the opening of the Food Dock, will be another important step towards the complete regeneration of the docks area of the city."

In the wake of the Dowdeswell Group's failure to proceed, the council found that no hotel operator was willing to engage, but officers have since instructed Bruton Knowles to remarket the buildings

Bruton Knowles's marketing then led to two initial offers and two expressions of interest, which in turn led to a deadline extension for all four potential bidders, the date having been set for April 30th this year.

However, councillors have learned that the offers vary widely in value and proposed use. After further negotiations and due diligence, including financial checks on the bidders, two proposers were dropped from process, with one of the remaining bidders then failing to submit their revised bid by a deadline that had been rearranged to July.

The final decision on which of the two remaining bids should be accepted and moved forward will be considered by the council's cabinet next Wednesday (October 11th).

Bruton Knowles' sale for the site adds: "These exceptional properties provide a rare opportunity for a developer or owner occupier to give these buildings a new lease of life through a sympathetic refurbishment for a range of potential uses that complement the thriving commercial and residential community at this waterside location.

"Herbert, Kimberley and Phillpotts date back from 1846 and were built originally to accommodate the growth of Gloucester Docks during the Victorian era. They were named after the corn merchants that constructed them and stand as an iconic testament to the entrepreneurial spirit that Gloucester has always enjoyed."

Gloucester City Council restored and converted the HKP warehouses in 1985 to include glazed linked walkways between each block. They are Grade II listed and of solid brick construction over six floors, along with a basement, and feature timber truss roofs covered with natural slate.