4th December 2015
Sale of Filton Airfield, North Bristol
The sale of the former Filton Airfield in North Bristol to integrated infrastructure developer YTL Utilities (UK) Limited has now completed. Property consultants Alder King and Ashurst Solicitors represented the vendor BAE Systems. Savills and Burges Salmon represented YTL.
In July 2015 South Gloucestershire Council resolved to grant planning permission for the redevelopment of the 350 acre (142 hectare) site to create 2,675 new homes and 62 acres (25 hectares) of office and industrial employment uses.
Since the Airfield closed in 2012, the former owner BAE Systems brought forward redevelopment plans for a major mixed used development on the Airfield and began looking for a suitable buyer in spring 2015. The sale to YTL marks the next phase in the Airfield’s history.
John Benson, partner at Alder King said: “We are pleased to announce completion of the sale of Filton Airfield to YTL. We believe that YTL is the right buyer and look forward to seeing the site developed to create a new and sustainable community for North Bristol. We are delighted to have been responsible for the sale of this strategic site on behalf of our client, BAE Systems.”
Mike Craddock, Property Manager at BAE Systems, said: “We wanted to ensure that we chose a buyer with the skills and track record to deliver the vision for the redevelopment of this regionally important brownfield site.
“BAE Systems will retain responsibility for the remediation of the site and will be working closely with YTL and South Gloucestershire Council to prepare the site for development over the coming years.”
Colin Skellett, Chairman of YTL Homes UK, said “We are delighted to have acquired this significant site which is a strategically important development for South Gloucestershire and the South West region. YTL has a proven track record of developing new communities within Asia and is keen to bring this expertise to the UK. We look forward to working with local stakeholders to create an aspirational development that reflects the history of this very special place”.
BAE Systems also reconfirmed its continued support for the development of the new Bristol Aerospace Centre. As part of its commitment to the aviation heritage of the former airfield, BAE Systems has provided a long-term lease on the part of the Filton site to be used for the Centre, plus a contribution of £2.4 million towards the costs of construction. Completion of the Aerospace Centre is expected in 2017. Additionally, BAE Systems also confirmed its continued support for the relocation of the Great Western Air Ambulance and National Police Air Service to a new long term home.