Developer Lifestory has revealed plans to create a new retirement and housing scheme in Bourton-on-the-Water, after purchasing the site from Midcounties Co-op.

Known for its brands Anthology, Pegasus and Renaissance, the housebuilder 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, its seeks planning permission in early 2023 for the brand new development in the village.

The highly competitive sales process was managed by strategic real estate advisor Avison Young and saw a total of 33 bids.

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."

The site is close to the village's high street, set on the River Windrush, and local amenities, including a large Co-operative Food store. Benefitting from excellent commuting links via the A429, Bourton-on-the-Water is only a 30-minute drive from Cheltenham and a 40-minute drive from Gloucester.

Kathryn Lyddon, CPO at Co-op, added: "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."