WAITROSE is considering opening a store on a derelict site in Taunton.

The upmarket grocer is in confidential negotiations about setting up at Firepool.

The former livestock market site could also house several other retail outlets, homes, bars, a car park, play area, a boulevard and a riverside open space, councillors heard in a behind closed doors meeting.

A national clothing outlet already in Taunton has also reportedly expressed an interest in relocating to Firepool, although councillors are keen the development won’t impact negatively on the town centre.

A Waitrose spokeswoman said: “It’s been no secret that Waitrose would like a store in Taunton and we will continue to explore opportunities in the future, but no announcements at this time.”

Councillors have for years tried to attract businesses to Firepool, but so far only waste company Viridor, which previously operated from premises beside the railway station, has moved in.

They hope the completion of the Northern Inner Distributor Road later this year will open up the site for further development.

A Taunton Deane Council spokeswoman said: “The council continues to work with development partner St Modwen to secure occupants for the Firepool site.

“It is hoped that a public consultation on the site will start by the summer.”

If Waitrose comes to Taunton, it could be good news for neighbouring home owners – a Lloyds survey concluded that property prices near Waitrose stores can command a 12% higher price than similar properties in other area.

Meanwhile, Lidl has confirmed work will start soon on a new store in Castle Street, a couple of hundred metres from its existing outlet in Wood Street.

The company, which has another store in Roman Road, is this week signing an agreement to pay £550,000 towards a flood storage scheme and to demolish its Wood Street store within three months of opening the new one, on the site of the former Taunton Youth and Community Centre.

Lidl bought the land from the TYCC trustees and Taunton Deane and Somerset County Councils for £1.95million.

A Lidl spokesman said: "We are delighted that planning permission has been granted for a new store on Castle Street.

“The store will be of the highest specification and will provide residents of Taunton with all our quality, fresh products as well as special seasonal lines and limited offer promotions.

“We would like to thank local community for their support and look forward to opening the doors to them."

Once the Wood Street store is demolished, it will be replaced by retirement flats.