Sale of the Municipal Offices

Why is the council selling the Municipal building?

The council has occupied this historic and important building, and it has been used as offices for over 100 years, during this period, however, the ways of working have changed, and the building is no longer suited to modern and efficient working practices.

Listed buildings of this scale are also costly to heat and due to the fabric of the building can be expensive to maintain and the listed nature often inhibits change.

The council is therefore seeking a buyer who has the means and ability to overhaul the building, look toward alternative uses whilst also preserving this landmark property for future generations. The sale will generate capital for local authority services and by relocating staff to more modern and efficient working environment make future reductions in ongoing maintenance and utility costs.

Will council services be disrupted?

The council has committed to an ongoing presence in the town centre and owns a range of real estate assets within Cheltenham offering potential alternatives for those currently working within the Municipal building.

Where do I find information about the marketing of the building?

All information relating to the building is available on the agent’s website and related data room which holds further documents and details (requires registration).

What will the building’s use be going forward?

The Municipal building is currently in use as offices; however, the building has the potential for a range of other uses, subject to planning permission and listed building consent.

To receive the best value for the site, the council is open to receiving offers from those seeking conversion to a full range of uses prior to selecting a preferred bidder.

How much will the building be marketed for?

The building will not be marketed with a guide price in order to seek the true market value of the property. Bidders are required to undertake an in-depth assessment of the options prior to submitting their bids and will be required to demonstrate their plans during the bid process enabling the council to assess their robustness and deliverability.

How long will the council remain in the building?

The council has committed to retaining a presence in the town centre beyond the sale and vacation of the Municipal building. In the short term, the council will remain in the property until such time as the purchaser is ready to make a meaningful start on conversion (post planning and listed building consent), this is to maintain activity at the site and prevent mothballing, protecting it from deterioration or risk of vandalism through being left unoccupied.

Can I view the property?

Only parties interested in bidding for the property can view the site; those seeking a “tour” will not be permitted.

Viewings are strictly by appointment only and will only be undertaken through the agent, Avison Young.

How can I give my view on what happens next to the Municipal building?

In preparation for the sale, the council undertook consultation with an extensive list of stakeholders.

The purchaser of the property will be responsible for preparing and submitting a planning and listed building application which will be consulted on; however, this will only be undertaken after the marketing process has been concluded.

What will be required to bid?

Prospective bidders will need to provide details relating to their proposed professional team, anticipated scheme proposals and proof of available funds as well as their financial offer and associated conditions. Our agents will manage this process.

How will the council ensure best value?

The council has employed global real estate advisor, Avison Young to market the Municipal building. With extensive experience in dealing with high-profile listed building disposals across the UK and with an international reach, the council is confident that the sale will reach a wide cross-section of potential bidders.

Each bidder will be required to provide a range of information with their bid including their proposed plans for the site. The council will assess their deliverability which will be considered alongside the financial offer during the assessment period. Avison Young will support the evaluation throughout and ahead of the council submitting its recommendation to Cabinet for approval.

The council will also employ several strategies to ensure the building is not mothballed.

What is being sold?

Only the footprint land and building that forms the Municipal Offices is being sold. Today, the council offices are a single mid-terrace building but was formally 13 town houses, odd numbers 49 – 79 The Promenade. The sale will include the bike shed, Council Chamber, public toilets (at the rear) and all the extensions at the rear of the building.

The ownership extends to the back and front to the pavement (highways), and to Winkworths (estate agents) on the south west end and Simon Burn (solicitors) on the north east end.

The ownership also includes metal railings to the front and surface car park to the rear.

The sale excludes the bus station to the rear and the Long Gardens and War Memorial to the front.

Is the parking to the front of the building being sold?

Cheltenham Borough Council do not own the car parking to the front of the building. Gloucestershire Highways will retain responsibility for this parking, it is not included in the sale.

Will buyers be made aware of the properties condition and listed status?

All information relating to the building is available on the agent’s website and related data room which holds further documents and details (requires registration).

The council is committed to be open and transparent about the building providing sufficient information to potential purchasers and aiding them to offer the right money to purchase the building.

Is there any preferred use for the building?

The building has the potential for a range of other uses, subject to planning permission and listed building consent. The building needs to be a success to secure its future for generations to come, so most uses will be considered. Bidders will be required to undertake an in-depth assessment of the options prior to submitting their bids. Bidders will be required to demonstrate their plans during the bid process for the council to assess their robustness and deliverability.

Will the council retain (keep) any of the Municipal Offices?

In short, no. The council may opt to stay in the building post sale, to stop the building lying vacant and dormant. This will be agreed as part of the disposal negotiation process.

What happens if no one wants to buy the building?

There is already reassuring interest from several potential buyers.

Potential buyers will be required to demonstrate their plans during the bid process for the council to assess their robustness and deliverability.

What are the timescales?

Initial viewings are due to take place at the end of October to the beginning of November 2024.

Bids are to be submitted by 12 December 2024 (extended from 22 November). There will be a long period of negotiation and consultation. Further updates will occur during this time.

Why are we extending the bidding date from the 22 November to Thursday 12 December?

There are several reasons for extending the bid date:

• The uniqueness of the opportunity, and building complexities and the volume of the information available mean that buyers need more time to digest the information
• The bidders, have one initial opportunity to make the best first impression, they need time to prepare for that
• Continuing emergence of international interest, who are engaging at a later stage within the programmed bidding period