Wavensmere Homes is 12 months into the two-and-a-half-year regeneration and development programme for its £50m Arkle Court development in Cheltenham’s Central Conservation Area.
The Leader of Cheltenham Borough Council and senior officers visited the £50m Arkle Court scheme – formerly the North Place surface car park – to see the first roofs installed to rows of terraced houses.
The 147 houses and apartments are designed to sensitively enhance the street scene, including the Grade II* listed St Margaret’s Terrace. 75 three-bedroom houses are at various stages of construction and will become ready for occupation from August 2026. The over-siting and substructure works have recently been completed for the 72 one- and two-bedroom apartments, with stonework now being laid.
From 1931 until the 1980s, the site was the home of Black & White’s Coach Station. Over £20m has already been invested by Wavensmere Homes and Montane Partners on land assembly and remediation, site enabling, groundworks and construction. 600,000 Ibstock bricks are being used during the build programme.
James Dickens, managing director of Wavensmere Homes, said:
“The demand for homes at Arkle Court is unprecedented, so our production team and specialist contractors are redeveloping this site in the most efficient timeframe. Following six months of groundworks, the construction programme commenced in August 2025 and has been progressing at pace.
“Close to 2,000 people have already registered their interest for one of these energy-efficient new homes. We will launch the development this summer, to enable purchasers to choose their preferred plot at the off-plan stage and get their mortgage in place.”
Councillor Rowena Hay, leader of Cheltenham Borough Council, said:
“It’s great to see the progress being made on site and I was delighted to be given the opportunity to have a tour with the Wavensmere team. This really highlights the importance of this development which will provide first time buyers with an opportunity to get on the housing ladder. Right in the heart of Cheltenham, these new affordable homes will provide excellent value and sustainable living for local people.
“More importantly, this project is also so much more than just the delivery of much needed housing. It’s a great example of how we’re delivering on our social value promise by creating jobs for local people, strengthening the local economy and providing long-lasting benefits for the wider community. I look forward to seeing the positive impact this development will bring to the area.”
Arkle Court has been designed by nationally acclaimed architects Glancy Nicholls to complement the town’s Regency architecture and create a sustainable new community in the heart of the town centre. Extending to over 3.5-acres, the scheme will include multiple areas of high quality landscaped open space, with the opportunity for a public art installation to be created as part of the Cheltenham Paint Festival. Vehicular, pedestrian and cycle access is from North Place, less than half a mile from the town centre’s historic core.
The redevelopment will connect Pittville Park on the one side, through North Place, to the thriving Brewery Quarter, the Lower High Street Poundland site – which will see a mixed-use redevelopment – through to the cyber-tech hub MX and Minster Gardens. Enhanced connectivity and walkability will cut down travel times, increase opportunities and health and wellbeing, reduce isolation, and drive economic growth.
The designs for Arkle Court are gas-free with a target A-rated energy performance for the townhouses and B for the apartments.
Wavensmere Homes’ specification of local materials is helping to reduce carbon footprint, along with an array of energy saving and generating technology, including air source heat pumps, solar PV panels and centralised mechanical ventilation heat recovery systems. 19 one-bedroom apartments at Arkle Court will be offered to local first-time buyers for 30% less than the market value. Discounted ‘First Homes’ prices will range from £182,000 to £196,000, with 95% loan-to-value mortgages available from a wide range of banks and building societies. The discount will stay with the property in perpetuity, enabling future first time buyers to benefit from the same opportunity.
The criteria set by Cheltenham Borough Council is for all applicants to have a strong local connection to the Regency Town. The maximum household income threshold is £80,000 and a mortgage is required for at least 50% of the value of the property. Purchasers will own the home outright with a mortgage – there is no involvement from a Housing Association. As Arkle Court is the first development within central Cheltenham to offer ‘First Homes’, a statement from the prospective buyer is required by the Council to understand individual circumstances and the motivations to get a foothold onto the property ladder.
Wavensmere Homes is constructing an additional six major urban regeneration schemes, located in central Birmingham, Derbyshire, Ipswich, and Wolverhampton. The Birmingham-headquartered housebuilder has around 3,500 new homes either under construction or in planning.
Montane Partners is actively investing in property throughout the UK, across the residential, retail, leisure and hotel sectors.