Cheltenham Borough Council has got the green light to set up a partnership to redevelop some of the town’s key sites.
The council will lead the delivery of redevelopments on three core sites in the Town Centre, through an arm’s length organisation.
One of the sites, on North Place and Portland Street, is only 200m north of Cheltenham’s main shopping district. It comprises just under 5 acres.
The council also wants to improve access to its Royal Well, revamp the town centre to make it more pedestrian-friendly, and redevelop its own offices.
It occupies around 65,000 sq ft of offices on Cheltenham’s central promenade, and would relocate to purpose built offices at Portland Street under the plans.
The development brief would look to develop the council’s former offices, perhaps as a luxury hotel or with more retail and leisure.
The proposals have been developed with the council’s funding partners, Gloucestershire County Council and South West Regional Development Agency.
Cheltenham councillor John Morris said: ‘The delivery vehicle will be able to go into the market and act as the catalyst for the next stage in this momentous vision for the future of Cheltenham.’