Plans to redevelop different buildings come in all shapes and sizes. Some look to completely demolish and replace. Others seek to save as much as possible and regenerate. Then projects can involve a wide variety of new things, whether it is housing, office space, or amenities. What we want to look at here is the proposal for the House of Fraser building. As one of the leading experts in property investment in Richmond upon Thames, we think it is a noteworthy proposal.

History

The building was formerly Richmond’s flagship department store. It is a landmark dating back to 1968. Originally it was the home of Dickins and Jones. The property was purpose built as a high quality department store and has a prominent place on the high street. It is a 0.5 acre unit and has 61,000sq/ft of space.

The store was operated by Dickins and Jones until 2007. Then there was a rebranding as House of Fraser. Sadly they made the decision to close in 2020. The building has since changed hands twice.

Initial redevelopment plans

The first company to buy the property was investment firm Canadian and Arcadia. They had really interesting plans to redevelop it. Their proposal was to strip out the insides and regenerate. They were planning to create space for shops, offices, and restaurants, making it a brand number leisure and retail hub.

These plans got planning permission in 2021. However, Canadian and Arcadia chose to put the site up for sale with this approval. It was subsequently bought by Sheen Lane Developments. They saw it as one of the best opportunities for property investment in Richmond upon Thames. They will proceed with the project but have made some slight changes. The most notable is they want to create a swimming pool and gym in the basement.

Local response

While locals appreciate the need to redevelop the vacant building, there has been some negative feedback about the recent plans. The major concern is that the project will have a big impact on noise levels. The expectation is that new restaurants and a roof terrace will cause more noises in an area that is already struggling with sound levels.

Part of the project also involves extending the building upwards to create an additional storey. This is where the roof terrace will be. As well as the noise from this, some locals have concerns about the height and how intrusive it could be.

The locals have put their concerns in writing and sent them to the local council. It will be interesting to see what the council’s response is.

Developer’s reply

The developer had their own response to the concerns. They point to the fact that there is already planning permission for much of the proposal. When reviewing it originally the council will have had to consider the townscape impact and things like privacy and overlooking. In granting the permission, the authority showed they believe there will be no detrimental impact on neighbours.

Work on the development is already underway and making progress. The first step is stripping out the interior and making alterations. The developer hopes to have the new building fully operational by late 2023.

Ask us about property investment in Richmond upon Thames

Finefair Ltd is a team that knows the ins and outs of investing in property in London. We appreciate the risks as well as the opportunities. It can be a very exciting prospect, but also a very stressful one, especially when it comes to tenancies and rent. We offer services here to help with the latter. This includes guaranteed rent and more.

So, if you are thinking about property investment in Richmond upon Thames or any other part of the city, rely on us. We can work with you to deliver unbeatable solutions for properties.