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Multi-million pound acquisition of two Gloucestershire business centres

Two state-of-the-art business centres in Gloucestershire have been acquired by a Warwickshire development and investment company.

AC Lloyd, whose headquarters are at Tachbrook Park in Warwick and who is celebrating its 70th anniversary this year, is the new owner of the Space Business Centres in Cheltenham and Gloucester after completing a £6.475m deal.

The site in Tewkesbury Road, Cheltenham, features four separate buildings with a total of 56 units ranging in size from 275 sq ft to 774 sq ft and has a mix of tenants ranging from health and fitness to building and construction services.

The centre in Olympus Park in Quedgeley, Gloucester, has five separate terraces containing 53 units from 357 sq ft to 721 sq ft and has attracted general retailers, engineers, electrics and design, and lifestyle and leisure providers.

Tony Hargreave, Property Asset Manager at AC Lloyd, said this was another exciting venture for the company’s investment division.

He said: “This is our first investment in Gloucestershire but since the commercial division of AC Lloyd was established 50 years ago, we have been involved in a vast range of commercial development projects.

“Acquiring the Space Business Centres in Cheltenham and Gloucester is a perfect opportunity to expand our presence across the country and both business parks are ideal for attracting SMEs.

“The size of the properties means they are perfect for ‘incubator-style’ industrial workshops, projects, warehouses, storage and offices and both business parks have fantastic links to reach the major transport routes in Cheltenham and Gloucester.

“The centres are currently 100% let, we will be looking to re-let or sell any serviced units that may become available and to attract more fledgling businesses to the towns and move to the next level in their business.”

Caption: The Space Business Centre in Cheltenham