FORMER HQ OF ZURICH INSURANCE IN BISHOP’S CLEEVE TO BE TRANSFORMED

The former HQ of Zurich Insurance in Bishop’s Cleeve near Cheltenham, one of Gloucestershire’s largest office buildings, is to be transformed in a multi-million-pound project.

Renamed as Grange Park business campus, it will be a ‘people first’ location where staff and visitors can work, relax and exercise amid more than 100 mature trees in 14 acres of parkland, say its developers.

Des Curran, director at architects Marchini Curran Associates, said: “Our design focus is on embracing and enhancing the building’s qualities, like the fantastic full height reception space and the internal ‘street’, while adding fresh elements that promote wellbeing for all users.

“As well as adding a bright new interior design feel to the common areas and office floor plates, we are creating new break-out spaces. Our designs seek to bring the lovely parkland setting inside, using natural materials and lighting to create a fresh, airy feel.”

The 175,000 sq ft of office areas are being configured to create various spaces and specs, providing an environment in which a mix of business and other organisations can thrive.

Joint marketing agents are JLL’s Bristol office and Cheltenham’s THP Chartered Surveyors.

Ian Wills, at JLL, said: “Most people in Cheltenham seem to have worked, or know someone who worked, for Zurich at The Grange. It’s an important location with a great heritage and this project carries that forward, thoroughly modernising the space for the next generation of businesses.

Richard Crabb, at THP, said: “Grange Park will provide space that is equal of the very best in Cheltenham town centre but provide much better value, and in a fantastic parkland setting. We are already in discussion with new occupiers drawn to this opportunity.”

Aztec West o ce buildings sold for industrial redevelopment

Two vacant outdated office buildings at Aztec West business park, near Bristol, have been sold to Barwood Capital for industrial redevelopment, in a deal brokered by Alder King.

Cascade 1 and 2, which together occupy a two-acre site at 1190 Aztec West, will be demolished and the site redeveloped, subject to planning, to create a 38,000 sq ft prime edge-of-town industrial warehouse.

Barwood, which was behind the development of the 12-acre Central Park logistics and Travelodge scheme beside the M49 motorway in Bristol and Portside Park in Avonmouth, raised more than £41 million in the third quarter of 2022 for its latest growth fund.

Tom Gold, investment director at Barwood said: “We continue to invest in underperforming, undermanaged or obsolete real estate through speculative development, asset management or repositioning, concentrating on locations with strong rental growth prospects and occupier demand.

“This site is an excellent first asset for the Fund and we look forward to progressing through planning.”

Tom Dugay from Alder King’s office agency team said: “We’re familiar with redundant office buildings being converted to residential use, but this office-to-industrial proposal reflects the strength of demand for industrial space in Bristol’s heavily land and stockconstrained market.”