Case Studies

Glenmore Commercial Estates - Glenmore Centre

The Glenmore Centre was completed in September 2005 and is an attractive development located on the ever popular Waterwells Business Park approximately 1 mile from Junction 12 of the M5 Motorway. The scheme was developed by Glenmore Commercial Estates Ltd and comprises 31 industrial and business units ranging in size from 800 sq ft to 5,500 sq ft.

The units are finished to a high specification and are of steel portal frame construction with profile metal cladding and part brick and block work elevations. Each unit was provided with a first floor storage area suitable for upgrading to office space and the majority had additional glazing which helped to enhance the natural light throughout making for more desirable working environments.

ASH & Co were instructed to market the scheme on behalf of Glenmore and were delighted with its success. Simon McKeag, Associate at ASH & Co stated; “The popular business location with good communication links and high quality of the accommodation helped attract a high level of interest in the development even prior to construction. A number of companies acknowledged that the opportunity to purchase freehold units of this size had been limited and moved quickly to ensure they didn’t miss out.”

Demand for the site was received from a wide variety of users to include; printers, training organisations, electricians, office suppliers and a number of businesses within specialist fields. 10 of the units were placed under offer prior construction and by the time of practical completion 15 purchasers were ready to exchange contracts. Occupiers now include; Omiga Technology, PJE Business Solutions, Maplan UK, MIUS and Dedman Contract Services. The total gross development value of the scheme was in the region £6 million.

Building on the success of The Glenmore Centre, Glenmore Commercial Estates purchased a further 2 acres of development land at Waterwells and planning consent has now been obtained to development this site to provide a second scheme, Regent Centre. This will comprise a range of units from 1000 sq ft with Phase I due to commence in March 2008.

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