Addington Capital, the property investment and asset management specialist has secured its first letting of 109-117 High Street in Cheltenham, adjacent to John Lewis.
Just Go Travel is taking the whole of the first floor, just over 7,400 sq ft, at a rent of £25 per sq. ft., having relocated from a traditional office location on the edge of the town centre. It will now be on the high street in the newly redeveloped office.
Addington originally acquired the former retail block in 2015 with its joint venture partner and has recently redeveloped the upper parts. It has converted the redundant upper floors, creating modern office space and a new courtyard at first floor to overcome the deep floor span.
The second floor (3,700 sq ft) office suite and two retail units on the ground floor, (circa 9,000 sq ft) are still available for let.
Tim Cornford of Addington Capital said, “We have re-purposed this old tired retail building to provide contemporary office and retail space and it is great news that we have already secured a tenant for a majority of the office space, prior to completion of the development. There is also good demand for both retail units, with discussions ongoing with a number of national retailers. Cheltenham is a thriving regional town and the demand for quality real estate space continues to steadily grow.”
