Eddie

Coronation square Cheltenham up for sale

13 posts in this topic

RUN down shopping centre Coronation Square is up for sale.

A new investor is being sought to take over the Hester's Way site.

The owners of the lease, who bought it in 2007, once talked about developing the area, but have now decided to sell up.

The plans for the site once included a £10 million renovation, backed by Tesco, which would have brought new shops and cafes.

But the developers behind it said the new Asda in Up Hatherley torpedoed the scheme.

This week, a spokesman for property investment manager CBRE Global Investors, confirmed the lease was owned by one of its clients.

He said: "For four years we liaised closely with Cheltenham Borough Council so that our scheme fitted in with the council's masterplan for the regeneration of the wider area.

"However, the credit crunch induced property crash followed by the continuing severe recession has drastically affected the site's development viability.

"Against this economic backdrop and other competing schemes, including the new Asda on Hatherley Lane, we have explored a number of different options for the site.

"These would improve it for all current tenants and attract new occupiers keen to be part of a regenerated scheme.

"We would have liked to have delivered on one of these schemes, but the client of this fund has now decided to wind down the fund and sell all its assets.

Investor

"Therefore we are shortly to seek an investor to buy the scheme in consultation with Cheltenham Borough Council who will be able to deliver a scheme that the site and the tenants deserve."

Traders at the square are calling for investment.

Jenny Butters, who co-owns fishing shop Be Lucky Angling with her husband, said: "It was a thriving shopping centre when we took the lease on nine years ago and now it's a ghost town. We only survive because we are a specialist shop, there's no passing trade whatsoever."

David Roberts, head of property and asset management at Cheltenham Borough Council said: "We are aware of the concerns surrounding Coronation Square and the empty retail units.

"Any pressure from the community would be welcomed and feedback would go to the leaseholders of the units.

"We understand they are looking to dispose of their interest and if this happens, they will not be redeveloping.

"They are, however, talking to interested parties and we would of course be keen to talk to any new tenants about driving things forward to improve the area."

tig

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....."Jenny Butters, who co-owns fishing shop Be Lucky Angling with her husband, said: "It was a thriving shopping centre when we took the lease on nine years ago and now it's a ghost town. We only survive because we are a specialist shop, there's no passing trade whatsoever.".....

What on earth has this woman been taking!?

I moved to Cheltenham in '95 and even then, "the square" was to be avoided.

The whole place needs flattening and more housing built.

Then the council needs to be a little more "select" in how they choose their tenants and before anyone starts down the snob route ....... I'm a council tenant and I live in Hesters Way, so I think I have some insight as to what the area is like.

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What short memories you have. This was a thriving shopping centre. The headlong dive into what it is now, started with the closure of the banks and was well and truely sealed when McCols closed and took the post office with them without any notice. Many people who relied on the post office, now get on the bus and go to town and do their shopping. And no, I don't just mean those on benefits. A lot of elderley people relied on the post office for their money, followed by a short walk to what is now the Co-op, or many years ago, it could have been Fine Fare or Liptons - take your choise! But now they have to do the long and somewhat torturous circular journey on the bus and they understandably, do their shopping while they are there.

It used to be that you could do everything needed at these shops, from buying shoes to buying that missing screw or a gallon of paraffin.

Fish could be bought frozen, fresh or dipped in batter and veg could be bought without plastic wrapping from your choice of 2 shops!!

There were 3 banks and a building society, plus of course The Post Office.

Bob Ford cut mens hair for years and Derek was the most recent man for the ladies.

If you didn't have a washing machine at home, there were 2 Launderettes and later at different times, at least 2 shops to buy your own machine. Fancy a bit of knitting? Yes there was a shop for that too.

Times have changed and shopping habits have too, but yes, this once was a thriving shopping centre.

Eddie likes this

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Must have been way before I moved to Cheltenham in '95.

I've always thought of "the square" as a place to avoid.

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Must have been way before I moved to Cheltenham in '95.

I've always thought of "the square" as a place to avoid.

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Must have been way before I moved to Cheltenham in '95.

I've always thought of "the square" as a place to avoid.

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You wouldn't remember The Toby as a real neighbourhood public house, either then Tony? Or Westfields Youth Club?

I'm trying to recall what other shops we've had.

I've got an old Kelly's Directory, well 2 actually. I'll see if I can dig them out to see what else was there.

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Okay, back on track 1963 first..

Going across the front we had, co-op again, but this was on 2 floors, with it's own hairdressers, Michelle's Ladies Hairdresser, Galleon Wine Co ((off-licence), G Harrison Ironmonger, Cleverly (chemist), Timpson Shoes, John(ny) Walkers greengrocer, Elizabeth's Cafe, Fine Fare, Bullen's Drapers, Sketchley Dry Cleaners, Bendix Launderette, Moody's Fishmongers, MEB, Leopold's (bakers), Home and Colonial Stores (Liptons?), Decorama (wallpaper etc) and Kenneth Gentleman's Hairdresser.

Just round the corner in Goldsmith Road, there was Westfields Youth Centre, Border Dry Cleaners and The Takeaway (chip shop!)

Moving on to 1972, we have the edition of Modern Manner outfitters, Home and Garden Centre, Mace & Dunne television dealers, Bright Hire self drive and Barclays Bank.

There was also a regular bus service with 2 services, both went through town, but one then went on to Leckhampton and the other alternated between Prestbury and Charlton Kings.

I can also remember over the years, Trident electrical (where CBH is now) and a Dry Weigh and Thoms, both where the off licence is now (at different times!!)

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Hm... sorry about the duplicated posts, no idea what happened there! :blush:

Rose tinted specs make everything "better" especially with the passage of time.

It sounds like it was once a great place, but we can't go back.....

It's already been stated that there are enough shops close by, maybe not as many as us, the consumer would like, but more than enough to make it unlikely any developer would "start again from scratch" which is what the place needs.

Te thing that IS in short supply is housing.....

Surely it would be better to meet those needs in a run down area like this, bringing in new families which hopefully would improve the area (in the way the new builds in Arle Farm have improved Springbank, yet another area where the shops are empty and are an eyesore!).

Housing is needed and memories won't put a roof over peoples heads.

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I don't think many are genuinely believing that we can re-create the past, I'm just showing that it hasn't always been the way it is now. As both of the areas, Springbank shops and Coronation Square, are privately owned, I guess it's someone with lots of money that is needed.

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I hope that something can be done about Coronation Square.

I have spoken to some of the traders there and will try to contact the private land-lord.

Sincerely

Stephen Lovatt [Prospective Candidate for election to the Borough Council - Conservative Party]

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We the undersigned petition the council to post "no alcohol" signs in Coronation Square, West Cheltenham.

There is a problem with people hanging about in the area drinking alcohol and being generally unpleasant to shoppers and passers by. This is offensive, contributes to the poor reputation of the area and is a disincentive for people to shop there.

There are notices up in various parts of the borough saying that alcohol must not be consumed there. It would be a very good idea to post such notices around the area and get the police to enforce this policy.

This ePetition runs from 08/09/2017 to 03/05/2018.

https://democracy.cheltenham.gov.uk/mgEPetitionDisplay.aspx?ID=29&RPID=2299589&HPID=2299589&$LO$=1

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