Cavendish House will remain open as owner takes back full control from tenant

The owner of Cavendish House has taken back full responsibility for its management – with its pop-up traders continuing to operate there – following reports of unpaid bills under its previous tenant.

By Jake Chown | Published Friday 24 October 2025

The owner of Cavendish House says bringing it back under its direct management will provide certainty for traders and enable long-term redevelopment plans for the site.

Pop-up traders at Cheltenham's Cavendish House will continue to operate there under new management, with its owner taking back full control following reports of unpaid bills.

Owner Canada Life says it has today assumed direct responsibility for the site, with a management team from Sanderson Weatherall LLP, which also manages its neighbouring Regent Arcade, taking on its day-to-day running.

It comes in response to concerns over reports of unpaid bills under its previous tenant, which Cheltenham Borough Council leader Rowena Hay said in an open letter to Canada Life had left independent traders in an 'uncertain and worrying position'.

Pop-up traders including local, independent businesses have operated shops at Cavendish House for more than a year, after a private investor took it over on a short term lease in May 2024, following the departure of House of Fraser just six weeks earlier.

A spokesperson for Canada Life Asset Management said: 'Effective Friday 24 October 2025, Canada Life Asset Management will assume direct responsibility for Cavendish House in Cheltenham.

'A locally based management team of Sanderson Weatherall LLP, with experience of both the town and the building, has been appointed to act in the capacity of managing agent to oversee day-to-day operations.

'Bringing Cavendish House under Canada Life Asset Management’s direct management will provide certainty for the independent, local traders and artisans who continue to operate there and enable long-term redevelopment plans for the site.'

Leader of Cheltenham Borough Council, Rowena Hay said: 'I'm very pleased that Canada Life has heard us and our concerns and that of the businesses in Cavendish House and that they will step in and provide certainty for the traders.

'I look forward to a better communication platform with them and the council.

'My first and foremost priority is to our residents that they understand in a clear and transparent way that we, the town, come before any bottom line of a pension fund.

'I look forward to seeing Canada Life's plans for the future of Cavendish House.'