The site of a former garden centre and supermarket is set to undergo a transformation.
Residential developer, Lifestory, is planning to create new a new retirement and housing scheme in the Cotswold village following the purchase of a huge plot of land from MidCounties Co-op.
The firm has acquired a 3.39-acre brownfield site on Station Road in Bourton which includes a range of existing buildings, including former Countrywide and Co-operative stores and a garage.
The sale was handled by real estate advisor Avison Young and saw a total of 33 bids.
Now, Lifestory is looking to gain planning permission in early 2023 for a development which will provide the area with “a new lease of life”.
Kathryn Lyddon, chief purchasing officer at Co-op, said: “We are pleased our non-trade site in Bourton-on-the-Water was so well received by the market, and that, subject to planning, it will be used to provide much needed homes in this beautiful and ever-popular area of the Cotswolds.
“We continue to review our portfolio to ensure it meets our strategic needs and provides value for the Society.”
Joe Williams, associate director at Avison Young, added: “The Station Road site presented an attractive proposition to buyers, located in a very attractive area, with the potential to add value to the local community.
“There appears to be no slow-down in demand for quality homes, especially in the Cotswolds region.
“The regeneration of the site is set to bring new homes where they are very much needed.”