AN historic woollen mill in King’s Stanley will finally be redeveloped after a seven-year delay.

Back in 2010 Gladedale Special Projects received planning permission to turn Stanley Mills into 76 flats and 57 new build homes.

However, plans for the site stalled and a new owner has now acquired the grade I listed site.

Gloucestershire-based businessman Michael Chittenden who owns Manor by the Lake in Cheltenham is also currently regenerating the Royal Ordnance Depot in Northamptonshire.

Now he has turned his attention to Stanley Mills with an intention to create up to up to 25,000 square feet of business space, 135 apartments and houses – 68 new build and 67 converted from existing buildings.

The development is expected to cost more than £30 million and Mr Chittenden is determined to do it right.

“People assume that the priority of a developer is about generating value from a project, and are naturally concerned when historic sites like this are redeveloped,” said Mr Chittenden.

“But while that’s important, there is a much bigger responsibility – and that’s to conserve as much of the past as we can for future generations.

“If you look at my track record as a developer, I have always been drawn to beautiful and historic buildings.

“I’m on the same page as the local council and conservation organisations like English Heritage. I want to create something I can be proud of.

“Local people can be reassured that we’ll be totally transparent in what we are doing.

“I have always seen community engagement as the opportunity to enhance a development, so we’ll be holding open days, sharing our plans online and inviting constructive comment and feedback throughout the process.

Stanley Mills was originally built in 1813 and is considered to be in poor condition by English Heritage.

Production at the mill stopped in the 1980s and it stood empty until recently when it became partially occupied by Marlings – a carpet company.

Regeneration of mill has become a common occurrence in Stroud with Ebley Mill now occupied by Stroud District Council and Rooksmoor Mill earmarked for development.