30 million investment in the Brewery expands Cheltenham town centre
PUBLISHED: 16:38 28 January 2015 | UPDATED: 16:38 28 January 2015
Cheltenham town centre is promising to be transformed when the Brewery phase II opens in 2016. Demolitions were completed in November and triggered the £30 million construction works.
The Brewery phase II development – due for completion in 2016 - will comprise 110,000 sq ft of new retail space, a 104-bed Premier Inn hotel, 34 two-bedroom apartments and a pedestrian mall linking the development to the high street.
Martin Commercial Properties (MCP) has acted as development manager on behalf of the NFU Mutual Insurance Society and appointed Kier Construction for all building and demolition work over the next two years. Tom Bostock, fund manager for NFU Mutual, said; “This is a significant investment in Cheltenham by NFU Mutual demonstrating our confidence in Cheltenham as a retail destination.” Located in the historic spa town of Cheltenham on an old brewery site, The Brewery is a 200,000 sq ft modern, mixed-use development and incorporates an 11-screen Cineworld, Fitness First health club, eight restaurants; children’s play centre and 19 residential units. Recent big-name additions include Hollywood Bowl and IMAX. Retailers can choose from a range of unit options from 3,000 sq ft to 40,000 sq ft together with smaller spaces for cafés and other leisure outlets.
Philip Martin, development and investment director at Martin Commercial Properties said: “The scheme has been designed to provide a vibrant mix of uses that will establish The Brewery as an integral part of Cheltenham’s high street. The units have been designed to suit modern retail requirements - full height shop fronts, taller floor to ceiling heights and HGV access to service areas. Most high street brands want to be represented in towns like Cheltenham but top quality retail space is not always available. This long overdue rejuvenation of this part of the town centre has been done in partnership with Cheltenham Borough Council and its Development Task Force.”Cheltenham is a top, retail attraction recognised by many as a shopping destination of choice due to The Promenade providing a classic shopping experience leading up to Montpellier and the Suffolk area with their distinctive shops selling everything from antiques to gifts and homeware. The town still features on many retailers’ wish lists but space, as in many other town centres, is limited.
Phil Martin explains: “There are a number of retailer requirements for Cheltenham but finding appropriate accommodation has been difficult due to the limited supply on Cheltenham’s high street today. We’re redressing that balance so those retailers can be represented in the town. The Brewery not only offers visitors a place to eat and drink but will also provide another prominent position for retailers instead of having to jostle for ‘less than ideal’ space at the other end of the high street.”
As well as a prime shopping destination, Cheltenham is a popular tourist town.
• New £30 million high street extension to the existing leisure and retail scheme that is promising to transform Cheltenham town centre
• The Brewery phase II development – due for completion in 2016 - will comprise 110,000 sq ft of new retail space, a 104-bed Premier Inn hotel, 34 two-bedroom apartments and a pedestrian mall linking the development to the high street.
The town has a thriving art scene which is growing year on year - Cheltenham Literature and Jazz Festivals - as well as a host of other events such as the Cheltenham Gold Cup. It has also recently come top of a list of the best places in the UK to raise a family based on good schools, housing, leisure activities and natural environment.
The Brewery, Henrietta Street,
Cheltenham GL50 4FA
Tel: 01242 574 378