"Significant costs" to redeveloping House Of Fraser building in Camberley, say council
They tell us that high interest rates and potential devolution plans are just some of the factors stopping a major project being undertaken.
Redeveloping a former House Of Fraser building in Camberley would involve "significant costs" according to Surrey Heath Borough Council.
They say that high interest rates, rising building costs and potential devolution plans have impacted any potential major projects.
Councillor Shaun Macdonald, Leader, Surrey Heath Borough Council said.
"This iconic building, situated in the heart of Camberley, holds immense potential for redevelopment into a variety of uses. However, current challenges 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."
If developers are interested in the building, they should email our Economic Development team [email protected].”
The building was acquired by the council in 2016, and used to house Caffe Nero and Natwest, with the latter being the only company still using the building.