CBRE has announced that the former Nutricia site in Wells has been sold to Crest Nicholson South West Limited. An exchange of contracts has taken place in relation to this former industrial site on Glastonbury Road, Wells which comprises 13.64 acres of development land.
Crest Nicholson, a major UK property developer, intends to submit a housing-led planning application to the local authority as soon as possible.
James Broome Director and Head of Residential Services South West for CBRE commented: “This is fantastic news for Wells as the site will now be transformed into an exciting and exclusive place to live. The site has been blighted in the past with a number of issues including un-implementable planning permission, repossession and market forces.
“This news marks the start of an exciting chapter for the site and local area.”
