Cheltenham needs to break out of its Regency straitjacket if it is to expand its business horizons.
That’s according to industrial specialist Robert Smith at Bruton Knowles who says the borough needs to allocate fresh commercial land around Junction 10 of the M5 in order to give businesses the room to expand their operations – and workforce.
“Cheltenham needs more space to work and develop if it is to deliver its business objectives over the next decade and beyond. The council is keen to broadcast Cheltenham means business – but it needs space now if it is going to deliver on that promise.”
Robert Smith was commenting on Cheltenham Borough Council’s newly launched economic strategy – prepared by Athey Consulting – aimed at raising the city’s profile as a leading regional business hub.
The report outlines options and ideas to improve Cheltenham’s performance and appeal as a business centre and predicts likely growth patterns both in and out of town.
Robert Smith said: “Although the report is fairly upbeat, underlining Cheltenham’s ‘quality of life’ brand, it goes on to highlight some perceived weaknesses including shortages of quality office space, lack of larger office buildings and the continuing trend to convert secondary accommodation to residential.
“Although the town still has the highest quantity of office stock in the county there is a common perception that Cheltenham is full. The town’s Regency heritage – rightly treasured – backfires on business as buildings are perceived as unsuitable and costly for commercial or office use.
“Regency stock is also very attractive to the residential market – which could exacerbate the trend even further.”
Up to 80 per cent of the town’s office stock comprises accommodation which is less than 500 sq m – which is not likely to interest bigger businesses while there is clear demand for premises which can accommodate in excess of 1,000 sq m.
“If businesses are to be retained in the town they need room to expand and the ideal place for this long-term development would be around Junction 10 which will require close cooperation with Tewkesbury Borough Council.”
“The town is also losing out to Gloucester and Tewkesbury, both of which offer Business Parks in their employment land and premises portfolio which is resulting in Cheltenham failing to attract new businesses.
