Council in Surrey buy £8m Camberley industrial estate

Surrey Heath Borough Council has bought St George’s Industrial Estate on Frimley Road in Camberley, in an effort to increase its income

The purchase, agreed at a sale of £8m, has been made to promote the local economic growth of the borough, and provide for better effective use of Pembroke House located on the site.

Consisting of 23 industrial units, the estate is expected to generate income for the council in the region of £560k per year through industrial use rent, which supports against the reduced funding for the public sector.

Among the current tenants are Dorzone, Brandon Tool Hire, R C Grant & Sons Ltd, Folder Printing, Paramount Waste Extraction Ltd and Rexel UK Limited.

Councillor Moira Gibson, leader of Surrey Heath Borough Council, said: “The purchase of the estate supports the council’s Property Acquisition Strategy that aims to invest in property assets as well as assisting with the economic development of the borough.

“Properties are held for a number of reasons including economic regeneration, supporting business enterprise in the borough and stimulating growth, in addition to income generation.

“Acquiring the estate assists with the overall economic wellbeing of the borough, in particular the regeneration of Camberley town centre which is a key priority of the council.”

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