Growing occupier interest in The Forum in advance of completion

Developers leading Gloucester’s transformational regeneration at The Forum today confirmed strong interest from occupiers looking to take space, with almost three quarters of available space already taken up.

The Forum will be completed and open for occupiers in 2024, and the year has started positively in terms of interest expressed in remaining available space, Reef Group’s development director Peter Langly Smith confirmed.

Across the various uses including a 4* hotel, offices, retail and café spaces, fitness space and car parking, around 70% of the space is already taken up. And Reef, who are bringing forward the development with partners Gloucester City Council, expects to confirm more new deals very soon.

“It’s an incredibly positive start to an important year for The Forum,” said Mr Langly-Smith.

“Companies have committed to being part of The Forum before construction completion. This is testament to the quality of this future-ready place and demonstrates the confidence these parties have in Gloucester’s future as an exceptional place to work, live and visit.

“With our partners at the city council, our commitment to sustainability and low occupational costs has encouraged early agreements and driven high levels of tenant interest. The Forum will offer cost savings for fit out and running costs for tenants, achieved via market leading design. We understand that the way we work has changed since the pandemic, and The Forum provides high quality space that speaks to innovative businesses and projects.

“The year has started with a high number of enquires, which have quickly progressed to detailed and advanced negotiations for the space. We hope to be able to make some further announcements in the coming months”.

Strong interest in The Forum

To date, the space already taken on The Forum includes:

• Hotel Indigo, IHG Hotels: The upscale brand hotel will open as a 131-bedroom boutique hotel, including a restaurant, conferencing facilities and a glamourous roof top cocktail bar.
• Car park – Q-Park: 398-space car park, with 39 electric vehicle charging points.
• Retail space: Tesco has relocated a Tesco Express within the development.
• Residential – Whitefriars: Just one of the 19 bright, airy and well-proportioned apartments remains available today.

Gloucester City Council leader councillor Richard Cook added: “The huge investment into Gloucester’s city centre is setting the city in good stead for a bright future. To see such confidence from businesses in The Forum before construction completes is most welcome.

“As we move towards a Gloucester that is focusing on leisure and business excellence, we are thrilled that The Forum is paving the way for its future, with appropriate office space to put Gloucester on the map.”

This news comes as the commercial property market is predicted to rally in 2024, with experts * saying that occupiers are focusing more on spaces with sound environmental and sustainability credentials and strong energy efficiency.

The Forum will provide the city’s cutting-edge hub for business, innovation and technology. The site is due for completion later this year – and has already secured strong interest from businesses.

Designed with connectivity and sustainability in mind, The Forum will be built to a BREEAM rating of Excellent and will be net-zero carbon in operation. It has been built to comfortably last 150-200 years. Thanks to smart building technologies, the space will provide flexibility for companies to adapt their work environment as teams grow.

To promote sustainable travel, The Forum is situated adjacent to the Gloucester transport hub, including the £6.4m new bus station and the train station, as well as providing bicycle parking on-site. The 398-space car park, operated by Q-Park, will include 39 spaces with electric vehicle charging points.

The building is part of Gloucester’s £200m regeneration project, which includes the University of Gloucestershire’s City Campus development on Kings Square and Kings Square itself.

Bruton Knowles and JLL are the letting agents for the office space and are working with partners to bring new occupiers to Gloucester’s flagship development.

Dorian Wragg, a partner at Burton Knowles, said: “The office elements of the scheme, 1 and 2 Cathedral Walk are flying up. Now the distinctive external cladding is being installed and the shape of the buildings is much easier to see, we are getting lots of calls about the availability of desk space. We hope to announce a significant letting shortly.”

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