A car park in Cheltenham town centre is set for a major regeneration scheme – as Wavensmere Homes are announced as the development partner for the new scheme.
The project will see circa 150 mixed-tenure homes delivered in the town centre on the 145,000 sq ft site. BBS Capital previously acquired the project, who Wavensmere Homes have worked with before on a £175m project in Derby.
James Dickens, managing director of Wavensmere Homes, said: “The acquisition of this prime site in central Cheltenham could deliver 150 highly sustainable new 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.”
Nick Spencer, director and co-founder at BBS Capital, said: “This site is positioned within a highly desirable area of Cheltenham, where the rich historical context has shaped the design ethos. Located very close to the range of quality restaurants and shops at The Brewery Quarter, the homes being proposed here will be in very high demand. Subject to planning, this multimillion-pound residential project is set to deliver new investment and jobs, while creating highly sustainable homes on brownfield land.”
Councillor Rowena Hay, leader at Cheltenham Borough Council, added: “The proposals for the redevelopment of North Place – providing much needed, attainable homes for professionals, families and older people in an area people want to live and work in – is a shining example of what can be achieved when the borough council and developers work together to realise their ambitions and create something really special for the benefit of Cheltenham.”
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