*The Raikes Journal is the only independent news outlet in Gloucestershire approved to use the copy of the BBC local government reporting service. Why? Only only independent, credible journalistically-led platforms that meet the BBC’s high standards win that permission.
The sale of Cheltenham’s landmark Municipal Offices continues as Borough chiefs were given a confidential update last night (October 21).
Cheltenham Borough Council has been in the process of selling its grade II*-listed town centre home since the building was put on the market in September last year.
The preferred bid, which was announced in May, includes plans to turn the former row of townhouses into a hotel with 125 rooms as well as a spa and event, banqueting and conference space.
The council has entered into an exclusivity agreement with Almiranta Capital, the group behind the bid who aim to convert the 68,290 sq ft Promenade building into a luxury destination for locals and travellers alike.
And a report on the progress of the proposed sale was presented behind closed doors at the cabinet meeting this week.
The report outlines the next steps in the sale process and sought approval to continue with sale contract negotiations.
Council chiefs say they are bound to secrecy while negotiations are underway. However, they will provide further information as soon as they are able to do so without affecting the commercial process.
“A report on progress with the proposed sale of the Municipal Offices was presented to Cabinet on Tuesday, October 21 as an exempt item, in line with standard practice for matters involving commercial confidentiality,” a council spokesperson said.
“This approach ensures that sensitive information does not compromise ongoing negotiations or the integrity of the process.
“The council remains committed to transparency and will continue to share updates with our community and stakeholders wherever possible.
“While details of the report cannot be shared in full, we can confirm that the report outlines the next steps in the sale process and seeks cabinet approval to proceed with sale contract negotiations with the preferred bidder.
“We recognise the significance of this matter and will provide further information as soon as we are able to do so without affecting the commercial process.”
The council has occupied the former row of terraced houses for more than a century but Borough chiefs are determined its future owner can honour the property’s heritage while ensuring its optimal use.
The building was developed by Samuel Harward between 1823 and 1840. The central seven houses were converted into Municipal Offices in 1916.
In recent times the council building has been described as “half empty” and not fit for the authority’s needs.
By Carmelo Garcia, local democracy reporter for Gloucestershire. carmelo.garcia@reachplc.com