Wavensmere Homes has formed a joint venture with BBS Capital to develop a 150-home mixed-tenure residential development in Cheltenham.
The 144,000 sq ft site is currently a surface-level car park on North Place. The land was originally purchased by BBS Capital.
A planning application comprising a mix of one-and two-bedroom apartments, across a four-storey building, and three-bedroom townhouses is ready to be submitted in autumn 2023.
James Dickens, managing director of Wavensmere Homes, said: “The acquisition of this prime site in central Cheltenham could deliver 150 homes and transform a blot on the landscape in the process.
“This site has been considered for development for over a decade, with various parties not being able to bring it forward successfully. We are proud to be working alongside BBS Capital to propose a scheme to the Council that overcomes the complexities and will greatly enhance the street scene along North Place and St Margaret’s Road.
“Our plans for the scheme include both apartments and townhouses, as we want to offer young professionals, families, and older people, appropriate and attainable new homes that enable them to significantly lower their carbon footprint. We are continuing to work alongside all stakeholders and look forward to submitting a full planning application.”
To send feedback, e-mail akanksha.soni@eg.co.uk or tweet @AkankshaEG or @EGPropertyNews
