Former Guildford House of Fraser handed £10m price tag
The former House of Fraser department store in Guildford has been placed on the market with an asking price of £10m.
The freehold property – which fronts on to the town’s North Street and High Street – is being marketed by Green&Partners.
With an approximate gross internal area of 185,347 sq ft, a £10m purchase of the asset would represent a capital value of £53.95m per square foot.
The property provides sales accommodation arranged over basement, ground, and five upper floors and has ancillary accommodation and a large loading area on the lower ground floor. There are also some cellar rooms offering storage at basement level. On the 5th floor there is listed roof garden, which was designed by landscape architect G.A.S. Jellicoe.
A number of redevelopment options have been suggested for the site, including residential, student and senior living.
The building is part-listed, and therefore empty rates are not payable.
The store – which closed last September – was refitted and relaunched at the turn of the millennium. It was formerly William Harvey and then an Army & Navy. Following its closure, Guildford was left with no department stores following Debenhams’ closure in May 2021.