Major site in Yeovil town centre goes on the market

A large part of Yeovil town centre has gone up for sale for £1.75m.

The 2.29 acre site has been put on the market through Alder King at a guide price of £1.75m.

The site in Yeovil includes the Glovers Walk shopping precinct, the bus station and part of lower Middle Street.

The sale represents an opportunity to transform the lower part of the town centre.

Alder King said the site the potential for a new mixed-use scheme which can “better support the town’s economic future”.

The vendor, Martin Property Group, added that the site has the potential to create a sustainable, high quality and distinctive mixed use development destination.

The group has produced a masterplan for the site which includes a central nine-storey building with 212 one and two bedroom apartments, 93 parking spaces, 7,920 sq ft of retail/commercial accommodation and bus station facilities of 2,979 sq ft.

Alder King partner Andrew Maynard said: “This is a unique opportunity to revitalise this part of Yeovil which for many years has suffered from dated properties and a high number of vacant or low quality units.

“The redevelopment of this site, which once accommodated a thriving glove making industry, would create a much-needed new sense of place for the town when delivered in tandem with the many other town centre regeneration strategies.”

The Glovers Walk centre includes 26 shops, a kiosk, restaurant, toilets, bus station and five residential flats.

It currently generates a rental income of £41,751 per annum with potential to add value by asset management or redevelopment.