A developer has purchased a former commercial site in Bourton-on-the-Water, Gloucestershire, where it plans to create a new retirement and housing scheme.
Housebuilder Lifestory has acquired the 3.39 acre brownfield site on Station Road, near the high street in the Cotswold village, from Midcounties Co-op for an undisclosed sum.
Existing buildings on the land include former Countrywide and Co-operative stores and a garage. Lifestory said the “highly competitive” sales process, managed by Avison Young had seen a total of 33 bids.
Following the deal, the company will seek planning permission in early 2023 for the brand new development.
Joe Williams, associate director for land and development at Avison Young, said: “The Station Road site presented an attractive proposition to buyers, located in a very attractive area, with the potential to add value to the local community.
“There appears to be no slow-down in demand for quality homes, especially in the Cotswolds region. The regeneration of the site is set to bring new homes where they are very much needed.”
Kathryn Lyddon, head of property at Midcounties Co-op, added: “We are pleased our non-trade site in Bourton-on-the-Water was so well received by the market, and that, subject to planning, it will be used to provide much needed homes in this beautiful and ever popular area of the Cotswolds.
“We continue to review our portfolio to ensure it meets our strategic needs and provides value for the society.”
Lifestory, which is headquartered in Cheltenham, operates three brands, London-based residential developer Anthology, and retirement home specialists Pegasus and Renaissance.
Read next:
- Gloucester Rugby appoints new director to continue club's growth
- Winners of the GloucestershireLive Business Awards 2022 announced
- M5 bridge upgrade near Gloucester completes two months ahead of schedule
- Gloucestershire designer to create mastectomy swimwear line
Like this story? Why not sign up to get the latest South West business news straight to your inbox.
