16th April 2014
Landmark Gloucester city centre period office building sold as budget hotel
Property consultants Alder King have negotiated the freehold sale of a landmark Gloucester city centre office building on behalf of private receivers.
Clarence House, a four and five storey Listed office building at 14-18 Clarence Street in Gloucester, had planning consent for the conversion of the upper floors to 21 flats with ground floor offices. It was acquired for an undisclosed sum by Clark Holdings UK Ltd which owns a small hotel chain trading as RoomsBooked Ltd and is now being refurbished and converted into a 58 bedroom hotel.
Roomsbooked Ltd operates an expanding portfolio of hotels, studios and serviced apartments in Cheltenham. Clarence House, which extends to 22,593 sq ft, will be its first outlet outside Cheltenham and will offer well-priced accommodation with ensuite bathrooms, kitchenette facilities, flatscreen TVs and free Wifi. It is expected to open in January 2015.
John Hawkins, associate at Alder King’s Gloucester office, says the sale of such a prominent period building will help breathe new life into Gloucester city centre.
“This is a substantial and well-known property which is now being converted to a more viable alternative use,” he says. “This will significantly enhance the redevelopment of the central area of the city and hopefully trigger a ripple effect leading to further investment and redevelopment.”
Clark Holdings are also considering further purchases in the area and liasing with Alder King.