Prominent shopping space in Gloucester’s city centre has been snapped up by an out of town investor.
The deal brokered by city commercial property experts Bruton Knowles sees the freehold of 168-170 Southgate Street bought by Ardencroft – who are building a portfolio of Gloucester properties.
The former Panasonic shop is on the roundabout of Spa Road and Southgate Street.
The ground floor will shortly be available as a retail unit following some internal refurbishment.
Julian Capewell from Bruton Knowles, who acted for the seller, said he was confident there would be strong interest in the well placed unit.
He said: “This is a well-known location in the heart of town and we had a number of offers which reflects renewed interest in the city centre – particularly around the Westgate and Southgate Street axis.”
“It’s encouraging to see that stakeholders are determined to restore the city centre’s appeal as a prime shopping location alongside the successful Quays regeneration just along the road.”
Julian added: “It is good to see the building sold as there is nothing worse than seeing boarded up properties falling into disrepair. Gloucester is a lively city and it is important that the approach routes are in full use.”
