From Walton-on-Thames to Redhill, town centre stores have closed. House of Fraser in Camberley was a prominent casualty but there are plans for the building.
House of Fraser’s former landlord is Surrey Heath Borough Council, who are themselves strapped for cash, with debts of £180 million. They are looking to help solve two problems with one initiative.
The former store will require complete refurbishment and asbestos removal but could become the council’s new home, along with holding a library and other civic offices. There should still be space to create retail, or office facilities to rent.
Changing Times
The store closures mentioned are sad in a way but the world has changed. More than a third of retail goods are now bought online in the UK, with bricks and mortar retail costs escalating, the outcome was inevitable.
This is still not the end for retailers, who will adapt, or for hospitality in the right place. A well known pub in Aldbury has come onto the market and we believe there are ample enquiries from purchasers:
A fine, countryside setting and unique features will help to sell this property, with the same applying to domestic properties. Surrey has not been exempt from price falls across the UK but is not the worst hit.
Areas such as Elmbridge have seen falls around 4% over a year but the county average is less than 2%. A few places, such as Guildford, or Tandridge bucked the trend and saw reasonable rises in puchase prices.
Wherever they are, homes with good locations and facilities are still attracting attention and with interest rates stabilising, the wider market may improve. Surrey is and always will be a desirable place to live.
Local Opportunity
From wanting good schools, to nearby open countryside and road, rail, or air links, Surrey has tended to be a location of choice. Neither is this restricted to working in London, or the need to constantly travel.
As much as traditional employers are not all faring well, Surrey is seeing expansion in other sectors. We recently featured a high tech film studio opening in the area, software developers have come to the county and are expanding.
A small Surrey SME recently received government support to meet a £4 million export order. They have developed a unique approach to the creation of solar panels, which supports other manufacturing techniques, rather than seeing argon gas wasted.
Employment will evolve but Surrey should remain desirable, due to good facilities and the wishes of employees. We anticipate helping plenty more people with removals, in or around the county of Surrey.
