Work is underway to keep Cavendish House operational and provide certainty for traders, the site’s owner says, amid concerns over reports of unpaid bills.
It comes after the leader of Cheltenham Borough Council, Rowena Hay, penned an open letter to owner Canada Life, calling for clarity over current lease agreements and – 'an issue that lies entirely outside the control’ of independent traders – the existence of unpaid bills.
The company says it has been 'actively investigating' the reports and that its immediate priority is to ensure the site remains operational.
The building has been occupied by pop-up traders 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.
But Councillor Hay called the current setup into question through her letter, urging the company to provide certainty to the 'hardworking' traders that occupy the property.
The council leader said the pop-up shops had offered 'a temporary positive solution' to the high street following the closure of House of Fraser, while the council awaited definitive plans for the property from its owner.
'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', she said.
A spokesperson for Canada Life Asset Management responded: 'We have been actively investigating the reported concerns regarding Cavendish House and work is underway to address them.
'Tenants are required to comply with the terms of their lease agreement and where these obligations are not being met, appropriate action will be taken.
'Our immediate priority is to ensure that the site remains operational, and we are working at pace to provide certainty to independent traders as we approach the busy Christmas trading period.'
Councillor Hay has also called for the company to come forward with definitive plans for the long-term future of the property.
‘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’, the letter continues.
'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.'
In response, Canada Life has reaffirmed its commitment to a long-term solution for the site.
'Canada Life has been a longstanding and active investor in Cheltenham, with over 20 years of ownership of Regent Arcade Shopping Centre which has seen continual investment to enhance the town centre's retail and leisure offering', the spokesperson said.
'Following the exit of House of Fraser from Cavendish House last year, we ensured that the site was not left empty and continued to serve the local community, while we work towards a long-term solution that will deliver economic and wider benefits to Cheltenham.
'During this period, we have successfully progressed through
a pre-application planning process and secured approval to remove the
bridge connecting Regent Arcade to Cavendish House. The removal of the
bridge link is a key step towards the future redevelopment of the site.'
