The pioneering joint venture between the public and private sector is partly funded from a grant of £3.5m from central Government’s ‘Getting Building Fund’ and the Growth Hub via First LEP, Gloucestershire’s Local Enterprise Partnership.
The innovative modular construction building will house workspace for the cyber tech, digital and creative sectors, a Growth Hub to support business development, an event space and café.
In addition, the grant will fund improvements to the neighbouring open space surrounding the Cheltenham Minster, the town’s oldest building, adjacent to the Wilson art gallery and museum.
Acrol’s Sales Director; Wayne Le Montais, said: “This is great for Acrol Modular, three years ago the company had a management restructure, since then the business has had steady growth in line with our business plan.
“During this period, we have quadrupled turnover, increased profit, doubled our work force, giving confidence for our owners Tom Wood and Mike Kears to make big investments back into the business.
“This order gives us a great foundation to build the business further. I have to say a big thank you to the Acrol team back at the factory and in the office, who have given up their evenings and weekends to hit deadlines over the last couple of years. This truly endorses the fact that we have a great team behind us, all working hard for the same goals.”
The air conditioning, ventilation, water, drainage as well as electrical systems will also be dealt with my Acrol Modular’s sister company Acrol Air Conditioning Limited, all of which will be integrated into the building both in their Gateshead factory and on site.
Co-Director, William Johnson said: “We were delighted to be selected for this project and look forward in partnering with Workshop & Cheltenham Borough Council. Working on this project is important to us not only with the presence it gives us in the marketplace, but also in improving our partnering skills with companies of this stature.
“We are confident this will assist us to secure future projects of similar prestige and will help us continue to develop over the forthcoming years. The next few years is certainly going to be an important & exciting period for myself, Wayne and Acrol Modular Buildings