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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
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The completion of the Agreement to Lease to Tesco Stores created an investment which ASH & Co were instructed to offer for sale. The property received strong interest and several offers were received and we were required to request best bids from a limited number of parties and an offer was accepted from a Private Investor. Contracts were subsequently exchanged and completion of the sale took place when the building works were completed in April 2011.
