St Modwen Developments has won planning permission for 170,000 sq ft of industrial space and 550 homes at Taunton Trading Estate, Norton Fitzwarren, Somerset.
St Modwen acquired the long leasehold interest in the 63-acre site, which is a former Ministry of Defence depot, in 1996 when it bought Chaucer Estates Ltd.
It will redevelop it in a joint venture with the freeholder AXA REIM.
Ray Hill of St Modwen, said: “Work on initial site clearance and installation of infrastructure will begin this summer.
“There are a number of existing businesses occupying the trading estate at present and we are phasing the demolition to enable as many as possible to relocate into purpose-built units within the new industrial estate.
“The residential land will be marketed in serviced tranches. The first dwellings should be ready in 2007.
“Twenty per cent of the dwellings will be affordable for local needs and we are in discussion with Knightstone Housing Association regarding provision for the first phase.”
The industrial buildings will range from starter units up to about 40,000 sq ft and will be ready next summer.
Bruton Knowles of Taunton is the letting agent.
References: EGi News 22/05/06
