Bruton Knowles has secured a new instruction from Gloucester City Council to bring to market 75,000 square feet across three warehouses at Gloucester Docks, currently being used as the Council’s headquarters. Due to its extensive knowledge bank of potential purchasers across local and specialist markets, the national property consultancy has been selected to take on this major project.
With ample potential these Grade II listed buildings represent one of the largest amounts of space to come to market within the Gloucester area for some time. Bruton Knowles, with its Head Office in Gloucester, has the necessary skills to market the properties including specialist teams with connections across both the leisure and residential development property markets.
The properties will either be sold, as a whole or in parts, sub-leased or the Council would consider a joint venture development. All opportunities will be reviewed by Bruton Knowles and those of most benefit to the Docks, City and Council itself will be suggested, before a final deal is chosen.
“There are a number of opportunities available for interested parties here” says Robert Smith, Bruton Knowles Associate based at Gloucester. “The site could be dealt with as a whole or in separate parts, for office, residential, hotel or other uses, subject to the agreement of the Canal and River Trust as freeholder.”
The unique, historical space comprises three, interlinked, former Victorian warehouses known as Herbert, Kimberley, and Phillpotts. Although listed buildings, developers are choosing to upgrade warehouses in Gloucester Docks, mostly into high quality residential apartments.
Robert continues: “With the Docks area quickly developing, whilst we have already seen a good deal of the old warehouses refurbished into residential properties, the opportunity for conversion of the property into a hotel could be a good alternative.”
Dorian Wragg, Partner and Commercial and Property Expert, based at the Gloucester office comments: “We’re delighted to have taken on this project to market these sought-after properties. With the Bruton Knowles headquarters based in Gloucester, the Docks is an area we’re always fighting to work on, and to be able to market this amount of space is a once in a lifetime opportunity. With our wide range of contacts across different sectors, we’re confident the warehouses will be quickly snapped up and we’re excited to see how the buildings will be transformed.”
Councillor Paul James, Leader of at Gloucester City Council comments: “The Docks are a key heritage asset for the city and we originally moved to the warehouses to kick start their regeneration. However, now the docks are a lively and vibrant tourist attraction, which draws millions of visitors every year. We feel it’s time to see the buildings being used for another purpose which complements the massive multi-million-pound regeneration that is taking place right across the city. The warehouses are too big for the City Council’s current requirements, so disposal will release a saving for the council taxpayer and help to regenerate the northern part of the Docks.”