Repairs plan for 'iconic' building scrapped

The council says repairs to the former House of Fraser building would be too expensive

Plans to repair an "iconic" former House of Fraser building in Surrey have been scrapped.

Surrey Heath Borough Council said surging building costs, devolution concerns, and high interest rates made the Camberley project too expensive.

The council bought the site, along with a NatWest branch which occupied part of the building, in 2016 with £17.1m of borrowed money.

It hoped the project would return a yield of 6.8% and help regenerate the town centre.

Council leader Shaun Macdonald said: "This iconic building, situated in the heart of Camberley, holds immense potential for redevelopment into a variety of uses.

"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."

Councillor Jonathan Quin, leader of the council's Labour group, said the decision was "very disappointing".

He added: "They [the Liberal Democrats] should have developed a plan by now.

"They must present some concrete proposals for the good of Surrey Heath rather than coming up with excuses for inaction."

At the time of the purchase, the building had been fully occupied by House of Fraser, Caffè Nero and NatWest.

Over time, the businesses with the exception of NatWest chose to vacate the building.

The cost to remove the asbestos was about £3.5m, according to a report presented at the council's executive committee in February 2024.