The former House of Fraser department store in Guildford is up for sale for less than a third of what it changed hands for 15 years ago.
Canada Life bought the seven-storey, 185,347 sq ft building at 105-111 High Street and 60-64 North Street from British Land for £31.5m in 2009. Now Green & Partners is marketing the site as a redevelopment opportunity for offers over £10m, reflecting a capital value of £53.95 per sq ft.
In marketing documents, Green & Partners said the site could remain as retail or be redeveloped as leisure, residential, student or senior living space. The documents include details from architect Bell Associates that show a 77-flat BTR scheme on the site.
The store was leased to House of Fraser with the lease set to expire in 2039; however, House of Fraser vacated the building in September 2023 as part of Mike Ashley’s decision to close many stores after purchasing the company in 2018.
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