wessex investors logo and header
  • launceston1
  • launceston2
  • launceston1
  • launceston2

Retail, leisure and homes

Wessex entered into a Promotion Agreement with the landowners of a c.50 acre site in 2011. The site was in use as arable farmland, albeit allocated in the Local Plan for employment uses. We had identified the capacity, need and demand for additional retail in the town and so established a strategy to promote a hybrid planning application for a foodstore with mixed commercial uses and housing.

We proceeded to agree subject-to-planning land sales with Morrisons, Marstons and Whitbread for the retail, hotel and pub elements of the development, and then promoted the planning application as intended.

In late 2013, we secured a detailed planning consent for a 53,000 sq ft foodstore & PFS (Morrisons) with outline for a pub/hotel, coffee, fast food and 278 homes.

Subsequent to the downturn in large foodstore expansion, Wessex negotiated an acceptable withdrawal for Morrisons and is now delivering a revised mixed-use development. Agreements have been reached with two separate housebuilders for delivery of the entire residential component, including the provision of all site servicing which enables the completion of contracts for the pub/hotel. We are currently in discussions with potential occupiers for promotion of a retail park, benefiting from a serviced plot with a current Open A1 Food planning consent.

 

01752 252 136 or 0207 924 2593 | www.wessexinvestors.co.uk | info@wessexinvestors.co.uk