Case Studies

Athena, Agency Disposal - Gloucester

Following a decision by GAMBRO BCT to rationalise their UK operation, ASH & Co were instructed to dispose of their high quality manufacturing facility. This was 40,000 sq ft and had been extensively adapted by GAMBRO with specalist clean rooms. With this in mind The marketing was specifically tailored to target  companies that may have had a need for this type of building. In addition particulars were extensively mailed to Gloucestershire Companies, major property agents within the region and all conatcts on our extensive database.

A considerable level of interest was received from a range of parties and after some careful selection the property was sold to an investor and simultaneously let to Toyota Handling Ltd.

This transaction was complex and invloved the co-ordination of several interested parties including their respective legal advisers. The matter was further compounded by the fact that Toyota needed early access.

The building was on the market for £3 million.

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New lease of life for city 'eyesore

Work should be completed this month on one of Gloucester's biggest city centre office developments, replacing what was once a major eyesore. The former Courts furniture store in Bruton Way, Gloucester, which lay empty and deteriorating for several years, has been given a new lease of life. The building has been transformed into modern office accommodation and is now partially occupied by Gloucester City Homes, which has leased more than 10,000 sq ft of offices on the ground floor.

Work is progressing on the remaining 20,000 sq ft, with completion anticipated in January, to provide further offices to accommodate traditional lettings for small to large occupiers alongside a serviced office operation with a staffed reception.

Now renamed Railway House with the city station just a short distance away, the architects were Roberts Limbrick, who previously transformed the neighbouring Gloucester Carriage and Wagon Works building unveiled last year. It is now the prestige headquarters of Roberts Limbrick and has won praise for the company's joint managing directors Stephen Limbrick and Jeff Roberts.

Railway House was purchased in 2010 by private investment company Formal Investments Limited, based in Festival House, Cheltenham.

Clare Savage, of Formal Investments, commented: "We wanted to raise the game and bring a high standard of flexible, modern office accommodation to Gloucester city. Many occupiers want to stay in the city, but can't find the flexibility or standard they need and, despite the tough market, we are confident of our product."

Nick Bevan Consulting Limited are agents for Formal Investments Limited and Gloucester City Homes was represented by ASH and Co Chartered Surveyors, based in Gloucester.

10th January 2012