Ambitious plans to create a new commercial and residential scheme in Southam are being finalised by a leading property development and investment company.
Warwick-based AC Lloyd Commercial is promoting the 75-acre site, which includes two parcels of land on the western side of the town on Leamington Road.
AC Lloyd Commercial is working in conjunction with the land owners, who are represented by Savills Cheltenham, to create a mixed-use site suitable for employment and residential development.
The 20 acres of commercial land can accommodate up to 300,000 sq ft floor space for a mix of starter units for entrepreneurs, mid-sized premises up to 50,000 sq ft and possibly a business park. Between 70 and 100 homes could be built on the seven acres allocated for residential use, with plans for a mix of two, three and four-bedroom family homes.
Graham Jones, an associate director in Savills development team in Cheltenham, said: “Our multi-disciplined team advised the land owners on a number of matters, including identifying the site’s potential for mixed-use development, before bringing it to market. This approach allowed us to secure the most appropriate partner to take the opportunity forward.”
Plans are currently being drawn up and the proposals are expected to be submitted to Stratford District Council in spring 2020.
Mark Edwards, managing director of AC Lloyd Commercial, which is based at Tachbrook Park in Warwick, said: “While some residential development is already taking place, this is the only development site of significance available for commercial use in Southam.
“There is a recognised shortage of employment land within the Stratford Local Plan and, we believe, demand from employers for a greater choice of quality units in the area.
“Southam is well positioned for its transport links and we are confident the commercial units and homes will attract plenty of interest. We are seeking to finalise our plans and put forward our representations to Stratford District Council early next year.”