A notable Regency-era building in the heart of Cheltenham has been placed on the market with a guide price of £2.36 million. This five-storey property at 15-21 Clarence Street is widely recognised as the home of The Bank House, one of Cheltenham’s two Wetherspoon pubs, which has served the town since 2009.
The property actually consists of two buildings dating back to the 1830s. The three-storey section was originally occupied by the Cheltenham and Gloucester bank, which vacated the premises in the 1850s. After the Second World War, this building was consolidated with the neighbouring structure, forming the larger premises that Wetherspoon acquired in 2009 to open their second Cheltenham outlet.
Named The Bank House as a nod to its past, the pub was among 32 Wetherspoon sites briefly put up for sale in autumn 2022. However, the company later decided to withdraw it from the market to continue operating it within their estate.
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Most recently, a spokesperson for JD Wetherspoon confirmed that the pub operates under a leasehold agreement which will not be impacted by the sale of the building. The current lease runs until January 2036, ensuring the pub’s presence in Cheltenham for at least another decade, with possibilities for extension.
The freehold ownership of the building is now on offer, inviting bids exceeding £2,360,000. Wetherspoon currently pays an annual rent of £157,000 for the property, providing prospective freehold owners with a stable rental income stream.
The interior comprises a ground and first floor dedicated to the pub, with additional space including a basement and upper floors used for accommodation and other purposes. The building spans a total floor area of 13,778 square feet (1,280 square metres) distributed over five levels.
Given its extensive upper floors and prime central location, the property presents promising opportunities for future redevelopment, contingent on securing necessary planning permissions. Suggested uses include conversion to residential units, office space, or potentially a hotel.
Estate agents Green & Partners describe the location as “well positioned in the centre of Cheltenham on Clarence Street, close to prominent retail areas such as the Promenade and High Street. Nearby occupiers include Space NK, Wagamama, Waterstones, Oliver Bonas, Fat Face, Crew, and Franco Manca.”
They add: “The property’s sizeable upper floors and central location offer an attractive prospect for future redevelopment, subject to vacant possession and planning consent. We understand there is market demand for conversions into residential, office, and hotel use, among others.”
Although the exact date the property was listed is unclear, an aerial video of the building was shared by the agents on YouTube in October 2025. The listing remains active on Rightmove, where interested parties are encouraged to reach out for further information.