NEWS that Caterham Cars is quitting its "spiritual home" in the town – within weeks – has been met with sadness across the community.
The iconic company, which was formed in the town 40 years ago, put Caterham on the world map last year by launching a Formula One team.
But it will leave the town for good in four weeks' time.
Its Station Avenue showroom and garage will be demolished to make way for 35 retirement flats – after a Bristol-based inspector granted planning permission last week, despite Tandridge District Council's objections.
And, the Mirror has learned, while the sports car firm is seeking a temporary new home and then a permanent new base in the summer, neither site will be in the area.
Croydon Road shopkeeper Lesley Thoma, the manager of Colourschemer Interiors, said of the imminent departure: "It's totally devastating news.
"I can't see the point of Caterham Cars keeping the name unless they have a presence here."
Caterham Valley parish councillor Mark Jones said: "Can you imagine the Caterham Formula One team being called Bangor or Romford?"
He accused Caterham Cars of "not giving a flying hoot about the town" when it did not publicly back a residents' fight last year against the flats plan.
Mr Jones added: "I'm fuming that a development that lacks amenities and has a lack of parking has been passed, and I'm sorry for the poor relatives of people that will end up living in that mess."
Jill Caudle, a district councillor in the town, suggested the firm could move to another vacant site locally, such as the former Rose and Young showroom in Croydon Road, or the former Pinewood Garage in Chaldon Road.
But Caterham Cars' spokesman Andy Bothwell ruled that out, saying: "We are in negotiations over other sites but none of them are in Caterham or Tandridge."
Shelley Filippi, manager of Church Walk Shopping Centre, said: "This will be a real shame for Caterham.
"Caterham Cars is such an iconic brand and raised the profile of the town.
"We have had the pleasure of working with its former marketing director Andy Noble over the years, when he brought Father Christmas into Church Walk, which drew large crowds to the town.
East Surrey MP Sam Gyimah said he was "thoroughly disappointed" with the news.
But he remained upbeat, adding: "Caterham is a fantastic place to live and can, with the right infrastructure such as superfast broadband, be a thriving hub for enterprise and business.
"The recent Google event I hosted in Caterham demonstrated there is huge appetite in the area.
"I will be working with the A Better Caterham group on other initiatives for the town."
But Woldingham resident John O'Brien struck a contrary note, saying: "I'm not surprised they are moving on.
"They grew from a kit car company and are now in Formula One racing. Why would they want to stay in a tip alongside a railway station?"
The flats are due to be built by developers Churchill Retirement Living by May 2014.
Caterham Cars was established in the town in 1973. Chart singer Chris Rea and former Formula One driver Jonathan Palmer are among those who have visited the Caterham showroom to buy vehicles.
