SOMERSET Council has announced its intention to move ahead with the sale of the Saxonvale site in Frome to a real estate investment manager - dashing the hopes of the “Mayday” group hoping to save the site for the community.

In a meeting held today (Wednesday 23 September) in Frome Town Hall, executive members considered the eight bids received and approved an unconditional sale to Newcore Capital.

The Council’s Executive previously agreed to sell the 12-acre brownfield site on the open market after attempts to regenerate the site were unsuccessful.

Mayday Saxonvale Community Benefit Society raised nearly £1 million in their bid to secure the site for community-led regeneration.

Alongside the financial offer of each party, other criteria used to select the preferred bidder included the proof of funds, transaction time-scales, experience and track record.

Somerset Council’s lead member for economic development, planning and assets, Cllr Mike Rigby, said: “This is an important milestone for the future of the site, and we are confident this will lead to a positive outcome for the town.

“We absolutely understand the strength of feeling in Frome, and we recognise and respect the many years of work put in by so many local people with the aim of regenerating this site.

“We share that ambition. Over recent years we have tried different approaches, including a community-led proposal, but none progressed into a deliverable solution.

“In coming to today’s decision we have had to focus on financial robustness of the bids, certainty of funding, risk and our statutory duty to demonstrate best value.

“Any future development proposals for the Saxonvale site will need to go through the planning process and this will include engagement with the local community and stakeholders.

“We look forward to working closely with Frome Town Council, residents, businesses and Newcore to help unlock the site’s potential and enable the regeneration that the people of Frome have waited many years to see.”

As outlined in the full recommendations to the Council’s Executive, the sale of the Saxonvale site to Newcore Capital will now proceed.

The investor has committed to arranging a series of community engagement events to listen to local stakeholders and explore priorities for the site.

We have approached the group for a comment.