Gloucester City Council is on track to finalize the sale of its former customer service offices. The freehold sale of the former Gateway offices at 92-96 Westgate Street is anticipated to be approved by civic chiefs in the upcoming week.
The sale is contingent on the preservation of the coat of arms and mural on the Three Cocks Lane wall. With the council no longer necessitating the building, it was listed for sale in the autumn, and bids were accepted until February 19.
The property was widely marketed with a guide price hovering between £600,000 and £700,000 for a private treaty sale. Bids for the site were submitted within the range of £585,000 to £610,000, encompassing various usage proposals such as solely commercial, mixed use, and residential.
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The council opted for the highest bid, which involves a mortgage, over a cash offer from another bidder. While the identity of the preferred bidder remains undisclosed, they are described as a “well-known local business.”
The chosen proposal includes the retention of employment use within the area. A report slated for presentation to the cabinet on April 9 outlines the £115,721 cost to operate the building in the 2022/23 period.
Selling the site is expected to result in cost savings for the authority and generate income for the upcoming financial year. Although the council had relocated its pre-booked face-to-face appointment area to the Eastgate Shopping Centre in July last year, costs for business rates and security are anticipated even if the building becomes vacant.
This strategic move is poised to deliver substantial cost efficiencies and financial gains for the council.