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The owners of Gloucester Quays say they are looking for a buyer who can take the destination shopping site to “the next leg of their journey”.

As Punchline Gloucester announced yesterday, the center developed by Peel L&P was launched at a price of £ 105 million.

The popular shopping and leisure location is considered one of the “crown jewels” of the city of urban redevelopment and attracted seven million visitors last year before the locks.

The adjacent Gloucester Retail Park is also on sale for around £ 20 million. The real estate company Savills is responsible for the sale.

Stephen Wild, Executive Director of Peel L&P said: “Gloucester Quays is an established place with an exceptionally diverse range of retail and leisure options. We are currently looking for an investor to come on board and take the center to the next leg of its journey as a prime location -guided destination in Gloucester.

“Like any other retail and leisure outlet in the UK, Gloucester Quays faced challenges due to the pandemic and the resulting lockdowns, but has weathered the storm well due to the quality and vibrancy of its consumer offering and has seen average spend up 54 since reopening in April % compared to 2019 numbers. “

Ian Mean, Director of Business West Gloucestershire and former Vice Chairman of Gloucester Heritage Urban Regeneration Company, said: “Gloucester as a city is deeply indebted to the Peel Group and its founder and boss, John Whittaker.

“He came to Gloucester over 25 years ago and decided the land around the docks was a prime development opportunity.

“He was right, and Peel has probably pumped more than £ 250m of his own money into the Gloucester Quays development since then.

“I was privileged to serve as Vice Chairman of Gloucester Heritage Urban Regeneration Company from October 2006 while editor of Citizen, and I can say, without fear or favor, that this city could not have had a better partner than Peel. “

He recalls reading two pages in the newspaper with pictures of all the councilors on the planning committee saying they had to approve the construction of the quays in the interests of the overall development of the city.

He added: “You made the right decision, of course.

“There has been a lot of nonsense talked about how the Quays supposedly took downtown trade. Absolutely wrong.

“At the last count, it drew 7 million visitors a year and was a real magnet for day-trippers from South Wales.”

He said that Developers Peel wasn’t just about making retailers profitable, but also keeping events like the Tall Ships alive with vital financial support.

“Gloucester has owed a great deal to the vision of John Whittaker and Peel over the years,” he said.

Sam Holliday, Federation of Small Businesses Development Director for Gloucestershire, said: “Gloucester Quays is a fantastic addition to the city, combining a mix of quality retail, hospitality and cultural attractions for the benefit of locals and visitors alike.

“The remarkable renewal of the Quays area mirrors that of the city itself, and all of our city center businesses – regardless of size – have benefited from making Gloucester a real and respected retail and hospitality destination.”

He said it was sad to see that the current owners, who had done so much to “make it all possible,” decided it was time to “hand over the baton.”

But he added, “Whoever takes it up, we just hope they have the same drive and ambition to ensure Gloucester Quays remains at the forefront of business in the county. The Quays’ success is critical to the success of the city and the larger inner city area – may it go on for a long time. “

David Jones, Managing Director at Evans Jones Property and Planning Consultancy, said: “Gloucester Quays was the fulcrum for the redesign of Gloucester and the catalyst for the redesign of Gloucester Docks, creating a thriving retail and leisure destination.

“At a time when many retailers were struggling, the owners of the Quays have proactively organized a number of successful events and festivals to drive traffic and create a vibrant hub where people can visit, live, work, shop and want to play. “

He said Peel is a visionary approach to regeneration that city centers and highways need to learn from, and it is hoped that Peel’s successors will continue to build on it.

He added, “Peel’s significant investment, combined with Gloucester’s ongoing renovation, makes the Quays an attractive proposition for a buyer who will take the center to the next chapter in its history.”

But Keith Graham of Morgan DeVere Menswear on Northgate Street, offered a different perspective, saying that the Quays development had actually “sucked the blood of life out of the city center.”

He said, “Punchline’s article on Gloucester’s flagship retail and leisure complex that is being offered for sale by its owners, Peel Holdings, is very interesting, but it doesn’t tell the full story.

“Yes, no one can deny that it regenerated a rundown area of ​​the city, but it also sucked the lifeblood of Gloucester city center. The city center is now practically nothing but cafes, poundlands and charity shops that drive more.” and more buyers to Cheltenham. “

Plans for the future of the inner city made him “desperate”. He said, “Our great historic city, with its beautiful cathedral, is getting shabby and unattractive, full of public housing and students with very little disposable income.

He also expressed dismay that the loss of Debenhams’ Primark had left it as an “anchor shop” in the city center. He added: “I hear and hear the comments of the ‘great and the good’ – they have no idea, never consider the bigger picture.”