Commercial law firm Thrings has advised on the acquisition of two landmark grade II-listed buildings that will help transform the historic heart of Gloucester.
The agreement between Ladybellegate Estates – part of the L&R Group – and Gloucester City Council will lead to the restoration and refurbishment of two former merchants’ office buildings at the north end of Gloucester Docks’ Victoria Basin.
Plans to restore and refurbish 23 – 29 Commercial Road, pictured below, will be unveiled later in the year.
Gloucester Docks have undergone a huge makeover over the past decade, with a multi-million pound investment transforming tem into a thriving residential, retail and leisure destination. 
The Commercial Road buildings will act as a link between this successful regeneration area and the city centre.
The transaction was led by Charles Wakefield, pictured right, an associate solicitor, who provided ongoing legal advice to Ken Elliott, property director at the L&R Group, on the purchase of the properties.
This involved a comprehensive investigation into the complex title and the negotiation of the conditional contracts.
Charles was assisted by Robyn Rumble from the firm’s company commercial team, who advised on incorporation matters.
The acquisition marks the latest stage in the relationship between Thrings and the L&R Group, a private group of property companies. Last year Thrings advised it on the £26m sale of Milsom Place, Bath’s premier retail and restaurant destination, to TIAA Henderson Real Estate.
Charles Wakefield said: “The ongoing, multi-million pound regeneration of the historic Gloucester Docks has led to it becoming a booming residential and commercial centre which is enjoyed by thousands of local people, businesses and visitors to the city each year.
“The location is key to linking the city centre and the docks, and Thrings is very pleased to have advised Ladybellegate Estates on a deal which will lead to the refurbishment and creation of properties with plans for four restaurants in a prime waterside location.”
Ken Elliott added: “Gloucester has a strong vibrant identity and we are looking forward to being part of the continuing regeneration of the city centre.”
