YTL acquires the historic former Filton Airfield
The historic former Filton Airfield has been acquired by experienced Malaysian developer YTL Group.
The historic former Filton Airfield – the birthplace of Concorde and supersonic travel - has been acquired by experienced Malaysian property developers YTL Group.
The 380 acre site is steeped in aviation history and remains at the centre of a world-class cluster of innovative aerospace and engineering companies, including Airbus and Rolls-Royce. It was previously owned by BAE Systems, who closed the Airfield in 2012.
YTL plans to transform the site into a new mixed use development, including over 2,600 new homes, 62 acres of employment space and three new schools.
Colin Skellett, Chairman of YTL 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”.
Mike Craddock from 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.”
Since 1955, YTL has led the way in creating thriving new urban communities across Asia, Australia and Europe. While Filton Airfield will be the firm’s first major UK property redevelopment project, the firm has a long track-record of investing in UK business. YTL bought Wessex Water in 2002 and owns a number of infrastructure and hotel assets. In total the company’s investments in the UK are worth over £3billion.