Plans to construct up to 50 new flats on Taunton’s riverside have been officially abandoned, local developer Acorn Homes confirmed this week.
The site, formerly occupied by the Poundstretcher store on Bridge Street (A3027), was demolished in September 2021 after the store closed during the pandemic in August 2020. Acorn Homes initiated a six-week public consultation in September 2024 proposing a mixed-use development featuring up to 50 residential flats and ground-floor commercial units.
However, nearly a year later, Acorn Homes has withdrawn from the project, citing escalating construction costs, a sluggish property market, and significant delays caused by Somerset Council planners and the Environment Agency (EA).
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Recognized as a pivotal development area within the Taunton 2040 Vision, the site’s future is crucial to the town’s urban regeneration efforts. Another proposal by L & C Investments Ltd. to convert the site into a car park was also withdrawn earlier this year.
Despite the setback, there has been progress on pedestrian access. In November 2024, Acorn Homes agreed with Taunton Town Council to reopen a footpath between the Riverain Lodge care home and Town Bridge, which had been fenced off post-demolition. The council is actively seeking to register this as a formal public right of way and is advancing plans for a new footbridge connecting the north bank to Goodlands Gardens.
Acorn Homes stated: “We invested significant effort into the proposals and responded to public concerns by providing a temporary footpath. Unfortunately, due to increasing build costs, a stagnant property market, uncertain planning approvals, and delays associated with the Environment Agency’s flood defense scheme, we will not be moving forward with this site.”
The EA is collaborating with Somerset Council on the Taunton Strategic Flood Alleviation Improvements Scheme (TSFAIS), aimed at protecting over 1,300 properties from flooding. Although the council has committed £860,000 from local housing development funds to enhance flood defenses along the River Tone, a start date is yet to be announced.
Looking ahead, Acorn Homes remains committed to completing other local projects, including 44 new flats at Firepool Lock near Taunton railway station, and to pursuing urban regeneration initiatives around Taunton where feasible.
“We were unable to reach a viable agreement with the landowners that reflects the risks and challenges involved,” the spokesperson added. “While we cannot speak for the landowners’ plans, as a local developer, we are eager to support urban regeneration efforts across Taunton when opportunities arise.”