A substantial site in Yeovil comprising the Glovers Walk shopping precinct, the Bus Station and part of lower Middle Street has been put on the market through Alder King with a guide price of £1.75 million.
The 2.29-acre site represents a significant opportunity to substantially transform the lower part of the town centre, with potential for a new mixed-use scheme which can better support the town’s economic future.
The vendor, Martin Property Group, says the site has the potential to create a sustainable, high quality and distinctive mixed use development destination.
It has produced a masterplan for the site comprising 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 retail precinct consists of 26 retail units, kiosk, restaurant, public conveniences, 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.
