Splashing the cash - North East Lincolnshire Council in surprise swoop for former department store

                                           

House of Fraser has been much missed since it closed four years ago

THE former House of Fraser building on Grimsby’s Victoria Street West has been bought by North East Lincolnshire Council.

Contracts have been exchanged today and the deal, which has been stitched together  by strategic partner Queensberry, also includes a leasehold on an adjacent car park.

The prominent five-storey building, which sits within the council- owned Freshney Place, has been empty since House of Fraser closed four years ago.

Continuing to see the premises unoccupied was not an option according to NELC management.

Although the authority is highly unlikely to reopen the building as a department store, it envisages a  further opportunity to " look at the redevelopment and diverse use of the shopping centre as a whole".

Enthuses council leader Cllr Philip Jackson: "We have a fantastic opportunity to re-invent Freshney Place and complement its retail offer with the new cinema, leisure attractions and fresh new market. 

"The House of Fraser building will now form an integral part of those plans and is an excellent move for the town centre."

The price paid has not yet been revealed but the vendor is believed to be Cheshire West and Chester Council which held it as a property asset within its investment portfolio.