The long-running debate over the future of the former Marks & Spencer building on Peach Street in Wokingham has entered a crucial new chapter, as Wokingham borough council’s (WBC) corporate and overview committee is set to consider its future use.
The prominent 1960s building, which has been under council ownership since it was purchased for £1.9 million in late 2017 following M&S’s departure, was recently being considered as a primary option for a total council relocation.
For years, the site has been a focal point for town regeneration. While earlier redevelopment proposals aimed to split the ground floor into two retail units and a gym — with offices and terraced gardens above — progress faced hurdles.
A previous £5 million basic refurbishment plan for the site had to be dismissed after surveys discovered the presence of reinforced autoclaved aerated concrete (RAAC) within the structure.
The building has spent the intervening years serving the community in a temporary capacity, most notably acting as a pop-up charity shop for Forces Support, helping to keep the high street active and avoiding a completely vacant retail dead zone.
The adjacent Rose Street short-stay car park, which was part of the original acquisition in 2017, is excluded from option considerations in this report.
Since acquisition, the car park has operated as a successful and popular short-stay car park in the centre of the town and generates an income of circa £200,000 per annum (gross).
A previous planning application for a mixed-use commercial use of gym on the ground floor and offices above was submitted in October 2020, and subsequently withdrawn in January 2021, after the gym operator withdrew from the proposal.
Mixed-use development options with commercial uses on the ground floor and residential uses on the upper floors have been considered but a financially viable scheme could not be identified.
WBC said it had received two approaches to acquire the whole site, for commercial / retail uses and residential, particularly for older people living.
Both approaches have been clear that development would need to include the acquisition and redevelopment of the Rose Street car park.
The options under consideration include for the property to remain in its current use, seek a commercial let, repurpose the unit for WBC’s use, create a managed workspace, enter into a freehold sale, seek expressions of interest for a joint venture, partnership, sale or lease, and to demolish and develop the site.
The meeting of the community and corporate overview and scrutiny committee will take place on Monday, June 29.
