Developers interested in the former House of Fraser building in Camberley have been asked to contact Surrey Heath Borough Council.
The authority acquired the building in 2016 when it was fully occupied by House of Fraser, Caffé Nero and NatWest. Only NatWest remains.
A year ago the council considered re-using it once asbestos was removed, the roof repaired and a mechanical and electrical inspection had taken place. Options for re-use included creating retail and hospitality areas, offices, community facilities and residential.
However, due to the cost, risk and uncertainty, the council is now looking to speak to developers.Leader of SHBC Cllr Shaun Macdonald said: “This iconic building, situated in the heart of Camberley, holds immense potential for redevelopment into a variety of uses.
“However, current challenges such as high interest rates, rising building costs, and uncertainty surrounding Surrey’s devolution plans are impacting the potential of any major projects.
“As a result, the council will focus on maintaining the building to ensure its safety and security, while larger improvements, including asbestos removal, remain on hold.
“We are committed to working with partners like Homes England and other brownfield developers to secure funding for the site and support the building’s future development.”
Those interested in the building are asked to contact the economic development team at economic.development@surreyheath.gov.uk.
© Thames Tap (powered by ukpropertyforums.com).
Sign up to receive our weekly free journal, The Forum here.
