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The South West John Ryde Commercial


Paul Maguire of John Ryde Commercial comments in relation to the Cheltenham and Tewkesbury areas.


For Cheltenham the end of 2018 was dominated by John Lewis opening a major department store in Cheltenham’s High Street, good news for that part of town and somewhat against the national retail grain. Perhaps the loser is House of Fraser and others in the Promenade. The Brewery scheme in Cheltenham also attracted more retail and leisure business. Of particular note was office lettings in this retail scheme to two tenants, SLG and THB Global taking about 40,000 sq ft of upper floor office space between them.


One notable feature of the office market has been the lack of choice for Grade A office accommodation in the Cheltenham area. There are numerous enquiries that cannot be satisfied at the moment but there should be some relief shortly, with the imminent completion of Honeybourne Place, 63,000 sq ft, The Quadrangle providing about 70,000 sq ft in a year’s time and Corinthian at Grovefield Way, West Cheltenham, which if the current planning appeal is successful, could provide about 150,000 sq ft in due course.


Four storeys of premium office space at The Quadrangle, Cheltenham, have been redesigned to meet the needs of the town’s vibrant business community. It occupies a prime location at the corner of the Promenade and Imperial Square, in the heart of the Regency town offering 70,000 sq ft with underground parking. Work on the project starts this Spring.


Cotswold District is the ideal place to do business!


When people think of Cotswold District they recall the gentle rolling hills, ancient monuments (many dating from Roman times) and lovely honey-coloured stone houses – but they sometimes lose sight of the great business opportunities on offer. The main hub is Cirencester, a leading centre for culture, leisure and commerce, which has been chosen as a base for several world-class businesses. There are also thriving commercial centres across the District, including Andoversford, Bourton-on-the-Water, Chipping Campden, Fairford, Moreton-in-Marsh, Lechlade, Northleach, Stow- on-the-Wold, and Tetbury. The District has good transport links, within easy reach of the M4 and M5, providing convenient access to London, Bristol and Birmingham. Train stations at Kemble and Moreton-in-Marsh link directly to London and other regional centres. Education facilities are first class with secondary schools recording outstanding results, while vocational and further education requirements are ably met by Cirencester College, and the Royal Agricultural University. The district is also home to Britain’s largest water park, with more than 133 lakes providing opportunities to observe rare wildlife and enjoy many water sports.


Over the last few years, many firms have been attracted to the Cotswolds, including the FTSE 100 wealth management company St. James’s Place which has its head office in Cirencester and recently expanded its operations in the town. Other companies which have long associations with the District include the Colt Car Company (Cirencester) and Chipping Campden-based BRI Campden, a world leader in food and drink research, and. Recent stellar performers include the high-tech computer games company Neon Play which has already won the Queens Award for Industry. Looking to the future the Royal Agricultural University now hosts an exciting new business growth hub which provides new high quality jobs. Over 80% of the landscape has been designated as an Area of Outstanding Natural Beauty so it is no surprise that tourism is a big revenue earner.


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The Trade sector has also been busy with local builders’ merchants, Bence, taking a second outlet on the West side of Cheltenham where they have converted a former car showroom at Manor Park. Jewson are also lined up to open a new operation on the Kingsditch Lane.


Two retail units of 3,000 – 4,000 sq ft formerly occupied by Maplin and Pampered Pets have been let by John Ryde Commercial to Middletons Mobility and Schmidt Kitchens.


On the investment front the year ended with the Ambrose portfolio (mixed use office and residential) and investment properties with major value added opportunities being sold by John Ryde Commercial on behalf of the family trust to Boultbee and a supermarket in Bath Road sold by another family trust to a locally based investment group.


Tewkesbury has seen continuing activity. On the instructions of Tewkesbury Borough Council, surplus and refurbished office accommodation has been let in 2018 by John Ryde Commercial in three suites totalling 8,000 sq ft to CommScope Connectivity UK Limited, Mole Valley Farmers Ltd and Flogas Britain Limited.


For the New Year there are two interesting industrial enquiries targeted at the Tewkesbury area. Moog and Bushell & Meadows both have requirements for commercial land of between 5 and 10 acres, local to Tewkesbury. This is due to expanding business activity, which is very welcome news, but sites are proving hard to come by.


Gloucestershire Airport touches down with first- class makeover by interior specialists


The sky is the limit for Gloucestershire Airport after its long- awaited major refurbishment from the County’s leading design and interior specialists reached its final destination. Whether it’s for business or leisure, visitors to Gloucestershire Airport will now be greeted with a modern new-look main reception, arrivals area, departures lounge and breakout spaces following the completion of the three-month project by Cobus. To fulfil the requirements of the exciting summer upgrade, the airport looked to the interior specialists to completely refresh the ground floor of the terminal building to create a more aesthetically pleasing area to encourage more private jet users.


Lloyd Coldrick, managing director of Cobus, said: “Gloucestershire Airport is well-known as being the gateway to the South West, so we wanted to make sure passengers’ first and last experiences of Gloucestershire were memorable.


“Having started the exciting project back in the summer, our team of experts worked tirelessly to create a modern, high-quality corporate environment which saw an overhaul of the arrivals area, departures lounge, security scanning area, main reception, waiting areas, washrooms, the pilots' restroom and breakout spaces. Despite the challenges of keeping disruption to a minimum in the terminal, which meant encountering a few delays and changes in the specification and programming of the project, the client was very pleased with the end result and we hope it will help the airport to continue to grow and prosper."


Cobus, which is based in Gloucester and has over 40 years’ experience in interior design, offers a 'turnkey' service that takes clients from the initial design consultation, right through to installation and ongoing aftercare.


COMMERCIAL PROPERTY MONTHLY 2019


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