A Malaysian conglomerate has completed the purchase of a former airfield it is aiming to turn into a housing development.

YTL Utilities (UK) has bought Filton Airfield in North Bristol and has planning permission from South Gloucestershire Council to create 2,675 new homes.

Colin Skellett, Chairman of YTL Homes UK, said he was delighted to have acquired the 350-acre site which is a strategically important development for the South West.

“YTL has a proven track record of developing new communities within Asia and is keen to bring this expertise to the UK,” said Colin.

“We look forward to working with local stakeholders to create an aspirational development that reflects the history of this very special place.”

Property consultants Alder King and Ashurst Solicitors represented seller BAE Systems, while Savills and Burges Salmon represented YTL.

John Benson, Partner at Alder King, added: “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.”

Meanwhile, Mike Craddock, Property Manager at BAE Systems, said it was important that the buyer with the right skills and track record to deliver the redevelopment of the brownfield site was chosen.

“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,” said Mike.