Farnham’s David Wylde must be the bane of ‘Your Waverley’s life? He pops up on the Farnham Herald Letters Pages and sticks his finger in ‘YW’s’ eye whenever and wherever he can. Just this week he asked this question? And…
Received this Answer!
Surrey County Council and Waverley’s great white hope to provide the both county and borough with a stonking great big income – YW’s share, predicted to be £90,000 a year, may be fading fast?
Still it’s only taken 20 years for the ‘imminent’ arrival of Contractors Crest Nicholson – so no worries if it takes as long to let the units!
And of course, Councillor Potts, has no worries about retail giant M & S pulling the plug on developments all around the country, or the news that it is at loggerheads with bigger fish than SCC/YW! Of the 60 building projects M & S is currently involved in, it is dramatically slowing them down, or dispensing of them altogether. The removal of a ‘anchor tenant’ is often damaging, or even fatal to schemes, but when it is closing down 30 under-performing or marginal stores, it doesn’t make too much sense to be opening more.
However, the Waverley Web is sure Councillor Potts is confident that Farnham will not be a victim in the revolution going on in M&S. Bet the retailer sincerely wished it had never changed it’s trading name from St Michael? May the saints be with them!
Said one industry insider: It doesn’t take too much reading between the lines to realise that Brexit, the cost of imports and rising inflation – it hit 3.1% yesterday, are squeezing profit margins. Turnover is slowing, and M & S could be asking for much improved terms on deals, For developers, that could be the straw that breaks the camel’s back.’
A spokesman for M & S said: ‘As part of our transformation programme, we re reviewing potential store openings and will only proceed with sites that will deliver the highest returns. We will provide an up-date when the time is right.’
Let’s hope it’s right for Farnham?