Asset Managers FI Real Estate Management (FIREM) have pressed the button on an ambitious £500,000 refit at Gloucester’s iconic Southgate House.
Julian Capewell from agents Bruton Knowles said the decision underlined growing confidence in the Gloucester offices market.
He said: “Southgate House has an interesting history having been originally built specifically for the Bank of England – but they only ever occupied it for a very short period before moving back to the safe haven of London!
“Since then the building has been the home of a number of establishment tenants like the Courts Service, Inland Revenue and QAA the schools’ quality people.”
Julian has introduced both JLT Insurance and Pro Insurance to the building (some 30,000 sq ft in total) and now has interest from other parties for the last available space.
James Raspin, Asset Manager for FIREM commented: “The planned works to the reception involve completely overhauling the current layout to provide a new meet and greet area, meeting rooms and break out areas for visitors and occupiers. There are also plans to install a coffee hub which will be run by a national operator.
“We’re excited to be launching the reception works at Southgate House. The building already stands out from the other availability in the city and the improvements will only help cement it as the premier business address in Gloucester.”
Julian Capewell believes the extensive revamp will increase the standout building’s commercial appeal.
“Work should last for some two months and when complete will give this fantastic office building a totally modern feel. Already a quality building the total space of some 100,000 sq ft will be 80 per cent let.”
He concluded: “With the office sector recovering fast, top class accommodation is in demand once again. Southgate House is at the heart of the city and offers easy access to the popular Gloucester Quays Outlet Centre.”
The refit is about to commence and will take about 6-8 weeks to complete.
