If it is anything like California bay then it doesn't need a well-drained soil. We have one bay laurel tree.
In the forest, the bay tree likes a cool, shady, wet soil. The bay tree doesn't often grow in full sun, more often the forest understory. Shade or partial shade is the key here. The ground beneath - hard, damp, cold to the touch. Our bay grows in symbiosis with the other trees of the forest. It grows up and up and up until it sometimes reaches the sunny canopy.
It doesn't need a lot of fertility. Maybe in fact the harsher conditions would impart more flavor to the leaves? Maybe a myth? I would hold back on the fertilizer.
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