A £15 million office development set to bring up to 500 jobs to Cheltenham has been submitted for planning.
Property investor Formal Investments wants to create more than 80,000 square feet of prime offices as the new HQ for a major international business keen to relocate to the town.
Honeybourne Place has been pre-let to the global company and, subject to the plans receiving permission, construction could begin in 2017 with the occupier moving to Cheltenham in 2019.
Previous plans for Honeybourne Place, at Jessop Avenue, have been revised in this new application because the occupier wants more office space than originally envisaged.
The desired office space has been boosted by more than 20 per cent by removing other elements, including residential units. A detailed planning application has this week been made to Cheltenham Borough Council for the high quality six-storey landmark building.
Nicholas King, a director at Formal Investments, said: “The striking landmark building will help deliver economic growth and bring further major inward investment in a location that has cemented itself as a key business district for Cheltenham.”
Jeremy Williamson, managing director of Cheltenham Development Taskforce, said: “It is always pleasing to bring forward a brown field site, but even more so when it has such job creation potential and is promoted by local investors such as Formal Investments.”
Steve Jordan, Cheltenham Borough Council leader, said: “Securing this investment in the centre of Cheltenham is a real coup, given the high value jobs that it will generate.”
Michael Ratcliffe, chief executive of Cheltenham Chamber of Commerce, said: “We are delighted at the investment in town centre office accommodation, as employment is the lifeblood of the economy.”