Cirencester's historic Cotswold Club has been sold.
The Watermoor Road club was bought by Cotswold District Council in 1978 to be used as a social club for its employees, and later opened its membership to everyone after leasing it to trustees.
Over the years the former pub has been entrusted to several different organisations to run, but after closing due to the pandemic it was handed back to the council in September 2020 pending new uses. However, the council has now struck a deal to sell the Grade II listed building to Watermoor Point for £375,000.
Cllr Mike Evemy, deputy leader and cabinet member for finance, said: “After careful consideration, we decided to sell the Cotswold Club as it presented a great opportunity to raise funds to invest into carbon zero affordable homes for our residents.
“Due to the condition, design and layout of the property, converting the building for any other purpose was not cost effective.
"On behalf of Cotswold District Council I’d like to thank the Trustees who have looked after the property during our ownership.”
The sale will result in a capital receipt of £369,400 after agent’s fees are taken into account.
“We’re committed to addressing the shortage of affordable housing to rent in the district," added Cllr Evemy.
"This sale will help us increase the number of affordable homes across the District, and meet our goal of reducing carbon use.”
Ian Woodward-Court, managing director of Watermoor Point, said: “We’re delighted to have secured The Cotswold Club.
"It’ll be an important addition to Watermoor Point and will form an integral part of our vision to create a key employment destination for the community of Cirencester and the Cotswolds.”
The development is home to offices, warehouse space and event spaces, and also houses 24 postgraduate RAU students at Riverside House, directly opposite The Cotswold Club.
Cllr Tony Dale, cabinet member for the economy and council transformation, said: “Watermoor Point is an impressive, multi functional development and is located just outside the centre of Cirencester. It’s a great asset to Cirencester and we’re delighted that the sale of the Cotswold Club will further enhance the site.”
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules here