Greenham Trust and Feltham Properties have secured planning permission for a new 20,000 sq ft Aldi store, residential units and a 70-bed care home on an eight-acre site to the south of Newbury town centre.
The Mayfield Point mixed-use scheme will be built on greenfield land between Newbury College and the A339, Newton Road.
In addition to the 26,136 sq ft care home, the site will also accommodate up to 75 residential units and a high-capacity electric vehicle charging area.
In buying the land, Greenham Trust has secured the financial position of Newbury College, and the rental income from the Aldi unit, which will be retained by Greenham Trust, will increase the trust’s charitable giving by around £200,000 a year.
Chris Boulton, chief executive of Greenham Trust, said: “Mayfield Point is an opportunity to create a consolidated, mixed-use development on a good strategic site at the southern entrance to Newbury. The key benefit for us is generating funds for the trust, which is important because it would make a reasonably significant increase to our giving, and that’s our raison d’etre.”
