The West Country


Gloucester is Going Places


The second major component of the King’s Quarter redevelopment, also LUF funded, is the new City Campus, being developed by the University of Gloucestershire in the former Debenhams store. The campus will be a fantastic new learning and teaching environment, focussing on nursing, health and wellbeing industries, and including a new library for the city. The University is on track to open its doors in September 2024, and once fully complete the campus will house nearly 4,000 students and 350 staff, placing the University at the heart of the community.


In November 2023, the Government awarded the city a further £11m of LUF, specifically towards the Greyfriars part of the city centre. This is a slightly overlooked area of the city, located to the rear of the Eastgate Shopping Centre, yet comprising historic buildings of huge importance to the city’s heritage, including the thirteenth century Franciscan friary. Over the next 3 years the regeneration will create leisure and culture opportunities, incorporating the friary remains into a new commercial facility, creating a retail frontage for the shopping centre, and repurposing the current Eastgate market into a flexible culture facility.


Elsewhere in the city centre, the new Gloucester Food Dock has recently opened,


providing an exciting foodie


destination within the stunning Gloucester Docks. Already home to 9 food and drink outlets the Food Dock has created valuable opportunities for local food entrepreneurs within a high quality visitor environment.


On Westgate Street, the High Street Heritage Action Zone concludes at the end of March 2024. Funded by Historic England over the past 4 years, the programme has invested


in 18 historic properties,


and Westgate Street is now looking really smart. A number of those units are now looking for occupiers, offering great opportunities for retail, f&b, office and other uses in a beautiful, historic setting next to Gloucester Cathedral.


A view of Gloucester Cathedral through The Forum, January 2024 Not literally


of course – with 2,000


years of amazing history and built heritage it’s entirely settled as the capital city of Gloucestershire. And to be honest there’s nowhere better to go - strategically sited on the M5 motorway and nestling between the glorious countryside of the Cotswolds and the Forest of Dean, organisations large and small, public and private sector, know why Gloucester is home.


However, Gloucester city centre is


certainly moving upwards, and the city is on a long term path of transformation and improvement. It has done well from the Levelling Up programme, receiving £20m under Round 1 and a further £11m from the recently announced Round 3. The improvements that this will bring


46


alongside other major new private and public investment is changing perceptions and attracting new visitors, residents and businesses.


In the King’s Quarter area of the city centre a genuine transformation is underway, enhanced by LUF 1 funding. The Council’s £100m investment in The Forum, creating new office, hotel, gym and residential space is nearing completion, and having let much of the development, the Council and its development partner, REEF Developments, are now actively marketing the remainder of the 97,000sq ft of office space. Incredible transformation, and


creating


connectivity between the railway station, which


open is


currently undergoing refurbishment, and the city centre. spaces, while new property


strengthening major


Finally, also on Westgate Street, the City Council has recently announced an exciting new development proposal for The Fleece Hotel. The historic former hotel and the adjacent Longsmith Street Car park will be turned into a state of-the-art community and business hub for young people who need a helping hand. The Phoenix Village project will provide purposeful activity, accommodation,


training, and support,


focused on creative, professional, and personal development.


Gloucester is definitely still there, but you’ll be amazed at how far things have moved on in recent years.


If you’re inspired get in touch with David Evans at Gloucester City Council and he’ll be pleased to show you investment opportunities.


David.evans@gloucester.gov.uk or 01452 396621.


COMMERCIAL PROPERTY MONTHLY 2024


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