Gloucester Renaissance: The Magnificent 7

This city is now a prime location for inward investment – that wasn’t always the case GLOUCESTER RENAISSANCE

When it comes to property, the old maxim is that only three things matter: Location, location, location. At the turn of the millennium, it is fair to say Gloucester was far from a prime spot, with businesses unwilling to relocate to the city. At this time, Tayntons Solicitors had one member of staff dedicated to commercial property reflecting the lack of demand in Gloucester. Due to the fantastic regeneration of the Docks area, the city as a whole has changed, as has its reputation to prospective investors. The result is that Tayntons Solicitors has increased staff numbers to meet demand. Laurence Lucas, a partner specialising in commercial property at Tayntons Solicitors, has delighted in seeing his city being transformed, and not just because it has meant an increase in business. “At Tayntons we have always championed and encouraged investment into Gloucester,” Mr Lucas said. “We very much believe that Gloucester and Gloucestershire are areas that are ripe for investment. “Location is vital when considering where to invest in commercial property. “There is a dramatic rise in clients instructing us to buy commercial buildings in Gloucester, as a result of where it is situated. “Gloucester is just off the M5, there are good transport links and the city is comparatively cheaper than our neighbours. “It’s a city that offers great value for money and that’s a big consideration, especially for first-time business owners. “In addition, as a result of historically low interest rates, borrowing is relatively inexpensive. “Some incentives come from the council to encourage investment into the city. “Our experience tells us that clients are, quite often, able to afford premises they thought would exceed

their budget as a result of the great value Gloucester offers.” A fixture of the city for more than 150 years, Tayntons Solicitors has always championed its home city, but they are aware that others haven’t always felt the same. However, the major regeneration of the early 21st century has seen the bricks and mortar of the city transformed, and the minds of investors changed beyond all recognition. Mr Lucas added: “At networking events, Gloucester is now known as a city where people want to do business. This was not always the case. “The Quays is the focus of major investment, but while clients are drawn to new developments, they quite often move on to the other existing sites.

80 | July 2019 | www. punchline-gloucester .com

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