£55m Cheltenham housing scheme approved
A £55m housing scheme in Cheltenham has been approved by the council’s planning committee.
Wavensmere Homes and BBS Capital’s Arkle Court scheme plans to deliver 147 houses and apartments in the town centre.
James Dickens, managing director of Wavensmere Homes, said: “There has been a desire to redevelop this key site for Cheltenham for over a decade. Receiving the green light from the Borough’s planning committee will enable us to inject £55m into delivering much-needed energy efficient homes and continue the renaissance of the wider St Paul’s area.
“It has taken years of partnership working to get to this point and our delivery will showcase what can be achieved when the Borough Council and developers work together to unlock complex regeneration schemes for the benefit of Cheltenham.”
The former Black & White’s Coach Station site had previously been awarded planning permission for a supermarket and 143 homes in 2013.
Construction of the 75 three-bedroom townhouses and 72 one and two-bedroom apartments is expected to commence within months, once the section 106 agreement for the regeneration scheme is in place.
Nick Spencer, director and co-founder at BBS Capital, added: “We are thrilled this landmark brownfield site can now finally be redeveloped to deliver highly sustainable family houses and apartments, with over 100 construction jobs to be created in the process.
“While the viability assessment for the project did not allow for 20% affordable housing, we will proudly be delivering this allocation on-site, along with a contribution of over £1m towards upgrades towards local education, libraries and the Chilterns Beechwoods Special Area of Conservation.”
