Two Somerset industrial sites totalling 9.23 acres are set for a mixed-use development after being bought by Mendip District Council.
The council acquired the freehold interest of the 5.35 acre former Notts Industries site and the adjacent 3.88 acre former Beswicks site in Frome.
Both sites are allocated in the emerging Local Plan for mixed use redevelopment.
Cllr Harvey Siggs, leader of Mendip District Council, said: “We are determined to invest in Frome’s future and have taken a bold and unusual move in buying the long-time derelict site in Frome for regeneration.
“We hope that this is seen as the right move by us as a Council. We are aware that it is a complex site, but as well as the challenges there are great opportunities offered and we hope this development can be a scheme that Frome can be proud of and adds to the vitality of the town.”
The Notts Industries factory, which at one point was the country’s largest manufacturer of life floats but more recently manufactured car components, closed in 2012.
The site includes derelict former warehouse/industrial buildings and part of the grade II-listed Old Silk Mill, as well as hard standing and woodland. It was put up for sale by the Notts Industries (Frome) Limited Pension and Assurance Scheme.
Jonathan Hazlett of Open Trustees which recently took over as trustee of the Notts Industries (Frome) Limited Pension and Assurance Scheme said: “After a long period of inactivity, it is very satisfying to see both sites sold to a buyer with a genuine vested interest in creating a scheme which will really benefit the residents of Frome.
“We will watch progress of this exciting redevelopment with great interest.”