Newcore Capital named preferred bidder for Saxonvale site

Somerset Council has confirmed Newcore Capital as the preferred bidder for the 12-acre Saxonvale brownfield site in Frome. The decision follows a competitive process in which eight bids were evaluated based on financial offers, proof of funds, transaction timescales, and professional track records.

The sale follows several previous attempts to regenerate the site. A prior selection of Acorn Property Group was withdrawn due to opposition, and a community-led proposal by Mayday Saxonvale was later rejected after the group failed to provide necessary proof of funding.

Newcore Capital has committed to organizing community engagement events to discuss local priorities for the site. Any future development plans will be subject to the standard planning process and stakeholder consultation.