Real estate firm secures purchase of site for homebuilder

Avison Young managed a strategic sales process of premium homebuilder, Lifestory who purchased a site from Midcounties Co-op.

Lifestory is set to create a new retirement and housing scheme in the village of Bourton-on-the-Water.

The sales process, managed by strategic real estate advisor Avison Young, saw a total of 33 bids.

Lifestory has acquired the site on Station Road which includes a range of existing buildings such as former countrywide and co-operative stores and a garage. Following the deal, it will seek planning permission in early 2023 for the development in the village.

The planned development is set to bring quality new homes to this highly desirable area and provide the site with a new lease of life.

Joe Williams, associate director of land and development at Avison Young, said: “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. ”

Kathryn Lyddon, CPO at Co-op, commented: “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. ”

Founded in 1978, Avison Young is a 2022 winner of the Canada 's Best Managed Companies Platinum Club designation, having retained its Best Managed designation for eleven consecutive years.