The sale of a property on Princess Way, Camberley has been approved by the Surrey Heath Borough Council Executive.
Following bids received after the property was marketed earlier this year, the site at 6-10 Princess Way will be sold, allowing the council’s debt interest costs to be reduced by repaying external debt.
The plot consists of 13,000 sq ft of ground-floor retail space and 26,000 sq ft of upper floor space, with the ground floor currently occupied by Poundland and Pets Corner.
The existing tenancies will be unaffected by the sale.
A review of Surrey Heath Borough Council's property portfolio is being conducted to support the council’s financial sustainability, with proceeds from property sales helping to maintain essential services for residents.