Festival House, the centre for business at the heart of Cheltenham’s thriving Business Quarter
This building was purchased with two large tenants in situ; one paid a reverse premium to enable their tenancy to be terminated and Formal Investments took over the management of the other via their sister company Formal Office Suites.
Since then, Festival House has been extended from 44,000 to 62,000 sq ft and undergone comprehensive refurbishment, transforming it into a prestigious and efficient environment. The building remained operational throughout building works.
Being in a conservation area, the planning application required sensitivity and Formal Investments worked closely with the Council to ensure that Cheltenham’s beauty and character were preserved.
Tenants such as insurer Aviva and IT support trainer Zenos both agreed leases, approved refurbishment plans, commissioned fit-out, and moved in within 12 weeks.
Occupiers now include Crowe Clark Whitehill, GL Hearn, Investec Wealth & Investment, Smith & Williamson and Steinhoff UK Group Properties.