{"id":23991,"date":"2025-06-20T07:56:39","date_gmt":"2025-06-20T06:56:39","guid":{"rendered":"https:\/\/www.thebusinessdesk.com\/south-west\/?p=23991"},"modified":"2025-06-20T07:56:39","modified_gmt":"2025-06-20T06:56:39","slug":"st-modwen-homes-pulls-out-of-regeneration-scheme","status":"publish","type":"post","link":"https:\/\/www.thebusinessdesk.com\/south-west\/news\/23991-st-modwen-homes-pulls-out-of-regeneration-scheme","title":{"rendered":"St Modwen Homes pulls out of regeneration scheme"},"content":{"rendered":"<p>St Modwen Homes has pulled out of a regeneration scheme near Stroud, almost three years after being chosen as the development partner, after the developer&#8217;s new owner decided it does not fit its &#8220;risk profile&#8221;.<\/p>\n<p>144 homes were planned for the Brimscombe Port site, with a public consultation having taken place earlier this year.<\/p>\n<p>But Stroud District Council says it &#8220;remains committed&#8221; to the scheme and is working with Homes England to find a way forward for the site.<\/p>\n<p>Cllr Chloe Turner, leader of Stroud District Council, said: &#8220;I am incredibly disappointed by this outcome, and the timing of the decision, following the well-received public consultation on the project.<\/p>\n<p>\u201cWe have worked over many years to secure more than \u00a35m in public funding to address the challenges of this former industrial site, and to develop detailed infrastructure and engineering plans for restoring the canal and port basin.<\/p>\n<p>&#8220;This public subsidy helped to make the project commercially viable when we went out to tender in 2022, and we had been delighted with St Modwen Homes\u2019 enthusiasm for delivering this flagship project, based on their experience with other challenging brownfield sites.\u201d<\/p>\n<p>St Modwen was acquired by Miller Homes at the start of 2025 and a review of its portfolio has resulted in the developer withdrawing from the Brimscombe Port project.<\/p>\n<p>St Modwen had been working with the council for three years and had been expected to submit a planning application this summer.<\/p>\n<p>Turner added: &#8220;We know this was a viable scheme which was effectively ready for a planning application to be considered.<\/p>\n<p>&#8220;Brimscombe Port is a challenging site to develop and although the new owner of St Modwen Homes says it does not fit their risk profile, we believe other developers could make it work.&#8221;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Developer&#8217;s new owner concerned about &#8216;risk profile&#8217; after reviewing its portfolio<\/p>\n","protected":false},"author":18,"featured_media":23992,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"coauthors":[81],"class_list":["post-23991","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-property","tag-gloucestershire","tag-top-story"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>St Modwen Homes pulls out of Stroud regeneration scheme<\/title>\n<meta name=\"description\" content=\"Developer&#039;s new owner Miller Homes was concerned about &#039;risk profile&#039; of plans for Brimscombe Port after reviewing its portfolio\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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