One of the most renowned and recognizable structures in
Cheltenham
Could transform into a high-end spa hotel along the tree-lined Promenade in the town. The Municipal Offices, which houses the Cheltenham Borough Council, have been up for sale since the end of last year.
Today, it was revealed that the renowned Grade II* listed structure might soon host visitors for both spa treatments and accommodations in the resort town. A three-month exclusivity agreement has commenced for a period of detailed examination following what the council termed an extensive marketing and bidding procedure.
The
preferred bid
sets out a proposal to transform the Municipal Offices into a vibrant, luxury brand hotel, offering 125 rooms, a spa, event, banqueting and conference space. It is described as being a hotel which is a destination for locals and travellers alike, a versatile offering for business, adventures, culture and relaxation.
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By signing a ‘sole-source pact,’ the council will collaborate exclusively with the chosen bidder for the coming three months. During this period, their proposal will undergo assessment. The specifics regarding the council’s earnings from the transaction and additional details about the project will stay commercially sensitive until this phase concludes.
The bid has been submitted by an international team who have previously delivered high end hotels across Europe. Heading up the team, Mario San Jacinto of Almiranta Capital Ltd said: ‘’We are incredibly pleased to have reached this stage and will continue to remain focused on bringing our proposals forward.
We’ve brought together an exceptionally global delivery team, featuring a powerful mix of local and international real estate specialists. Our portfolio encompasses the development of international hotels along with the renovation and oversight of numerous Regency structures. We’ve developed a plan to revamp the Municipal Offices—a landmark heritage site—transforming them into a valuable asset for Cheltenham, known as the Festival Town, and extending further.
We acknowledge that the structure lies at the core of the town and comprehend that besides selling the building, guaranteeing the ultimate completion of the project will hold significant weight for both the borough council and everyone with an interest in this cherished edifice.
‘In our proposal, what stands out is the enhancement of both economic growth and community spirit that our plan aims to bring to Cheltenham and its surrounding area. Our objective is to establish an environment where locals and tourists can interact socially as well as engage in business activities seamlessly, taking full advantage of everything Cheltenham and the Cotswolds provide.’
Mayor Rowena Hay, the head of councill
Cheltenham Borough Council
added: ‘’We are now entering a period of due diligence and it’s vital that throughout these next few months, we ensure that the proposals will deliver against our aspirations and for the economic, environmental and cultural benefits of the town. At every stage, we have committed to ensuring that the sale will bring benefit to Cheltenham, and retain the heritage of this magnificent building, which is, and will continue to be, at the very heart of our town centre.
‘The plans to convert these office spaces into a high-end hotel strike me as tremendously beneficial for both the downtown area and the broader region. Should this application prove successful, it would infuse fresh energy into the structure, providing an inviting spot for tourists, locals, organizations, and enterprises alike. What resonates with me most regarding this initiative is how it aims to unite individuals and foster liveliness along with constructive transformation within our city center.’
The council is committed to collaborating with the bidder for the successful execution of this project. Upcoming actions include detailed planning and finalizing the agreement, as prospective purchasers are eager to interact with stakeholders at various levels—local, regional, national, and global.
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