The short version
- Somerset Council selected London-based Newcore Capital as the preferred bidder for the Saxonvale site, rejecting a community-led proposal that had secured significant local funding.
- Residents and local officials expressed outrage at the process, citing rapid press releases and concerns that the sale was predetermined before public consultation.
- The new owners plan mixed-use development including housing and community spaces, but critics fear this will prioritize high-end properties over affordable homes for locals.
A significant setback has occurred in the efforts to regenerate the town of Frome in Somerset, England, after local authorities decided to award a major brownfield development site to an external real estate investment firm. The council’s choice effectively ends a five-year campaign by residents who had mobilized substantial financial resources and community support to secure ownership of the land themselves. This decision marks a pivotal moment for the town, which has long prided itself on independent governance and community-driven initiatives.
The site in question, known as Saxonvale, covers approximately five hectares in the town center. For years, more than 1,000 residents contributed to the Mayday Saxonvale project, a community benefit society aiming to build affordable housing, workspaces, a riverside park, and a lido. The group successfully raised nearly £1 million from local pockets and secured an additional £1.2 million investment from Resonance, a social impact fund. Despite these efforts, the Liberal Democrat-led Somerset council opted for a deal with Newcore Capital, a company based in Soho, central London.
The announcement of the preferred bidder was made during a crowded meeting at Frome town hall, where the reaction was immediate and hostile. Attendees shouted accusations of corruption and expressed deep disappointment, with some long-time advocates of the community project reduced to tears. Local councillor Sara Butler described the outcome as devastating, noting that the effort had been a town-wide mission aimed at ensuring development served local interests rather than external profit motives.
Suspicion regarding the transparency of the decision-making process has intensified following the timing of official communications. Within two minutes of the council announcing Newcore Capital as the winner, a full press release detailing the deal was issued. Less than fifteen minutes later, Newcore released its own statement. Critics argue this sequence suggests the outcome had been determined prior to the public meeting, rendering the session a mere formality rather than a genuine opportunity for community input.
Fiona Barrows, leader of the Frome town council, criticized the handling of the land disposal, stating that the Saxonvale site was too important to be treated as an ordinary transaction. While she indicated that the town council would continue to engage with the new owners, she emphasized the lack of clarity in how the decision was reached. Many residents suspect that the executive had already decided on the buyer before hearing final appeals from the community.
Concerns are also mounting regarding the nature of the future development. The Mayday project envisioned a mixed-use scheme with a generous proportion of affordable homes. In contrast, there is fear that Newcore Capital, which has experience in developing high-end residential and care facilities in other locations such as Cambridge and east London, may prioritize lucrative accommodation for elderly people and expensive riverside houses. This shift could undermine the goal of providing housing that local residents can actually afford.
Paul Oster, an executive director of the Mayday Saxonvale community benefit society, stated that the opportunity to create what could have been the UK’s largest community-led regeneration project was now lost. Jon Rolls from Resonance warned that without local ownership, there is a real danger that the development will be done to the community rather than by and with it. He highlighted that residents had not just expressed opinions but had actively invested their own money into the vision.
Newcore Capital has stated its commitment to working closely with Frome residents to understand local aspirations and develop plans collaboratively. Their emerging proposals reportedly include a range of new homes, intergenerational accommodation, community facilities for local artists, open space, and new car parking. However, given the unconditional nature of the sale and the swift execution of the deal, skepticism remains high among those who dedicated years to ensuring the site remained under community control.
The estimated sale price for the land is thought to be around £3 million. While the council argued it could not be certain that Mayday had secured all necessary funds for the project, the rejection of a bid backed by significant local investment and social impact funding has left many questioning the criteria used for selection. The incident highlights broader tensions in urban regeneration between community-led initiatives and private investment models.
As the dust settles on this controversial decision, the focus now shifts to how Newcore Capital will engage with the town. Whether the promised collaboration will result in a development that meets local needs or primarily serves external investors remains to be seen. For the residents of Frome, the loss of the Saxonvale project represents not just a financial setback but a blow to their collective agency and vision for their town’s future.
Sources behind this briefing
Go to the original reporting
- The Guardian World↗‘Devastating’: council rejects Frome residents’ bid for regeneration project
