Open letter on future of Cavendish House from our leader

Following the closure of House of Fraser, as a town we considered that the meanwhile pop-up shops – keeping the building open, offered a temporary positive solution for our high street while we awaited definitive plans to be submitted by Canada Life for the re-development of a critical and visible part of our town centre.

However, it now appears that Cavendish House, and the traders currently operating within it, have been placed in an uncertain and worrying position due to the existence of unpaid bills – an issue that lies entirely outside the control of the traders. In addition, there is no clarity on what current lease arrangements are in place.

As leader of the council, alongside my fellow councillors and local politicians, it is part of our role to provide a voice and platform to the concerns of our residents and businesses. It is in this role that I call on Canada Life to provide clarity on the situation at Cavendish House and provide certainty to the hardworking traders who currently occupy the property on their immediate future.

But more than that, it is now 18 months since House of Fraser closed and Canada Life has not yet brought forward a viable proposal for the future of the building. While I acknowledge that Canada Life’s primary role is to deliver investment returns and financial security for its customers, I also note that integrity is listed as a core value of the company alongside a commitment to creating positive social change and to strengthening the communities in which you do business.

While I know that the closure of House of Fraser was not within your control, I do believe you have a duty to act with integrity and responsibility as a landlord and therefore have to be accountable to some degree to the activities that take place within Cavendish House. But in addition, as a town of 125,000 committed residents who want to celebrate, protect and enhance Cheltenham, I firmly believe that in purchasing Cavendish House, Canada Life took on the responsibility of being a custodian of a building with a 200-year-old heritage and legacy on our Promenade. In this context, I believe that as a company you have an obligation to fulfil the commitments and values proudly stated by your company and commit to delivering lasting and positive change to a central part of our town and to a flagship property.

Cheltenham is a fantastic, vibrant and world-renowned place with an economy that continues to thrive and grow. I am confident that whatever Cavendish House becomes it can have a bright and financially successful future if Canada Life is prepared to be bold, truly commit to positive change and not merely look at a building as a line on a spreadsheet. In the meantime, your first priority should be to urgently resolve the concerning situation that the building, and the traders within it, find themselves in.

Yours sincerely

Councillor Rowena Hay, leader of the council