THE former Filton Airfield site has been sold by BAE Systems.

It has been bought by developer YTL Utilities (UK) Limited after permission was granted for a major-re-development of the land in July.

Planning permission to create 2,675 new homes and 62 acres of employment land exists for the site after being granted by South Gloucestershire Council.

Since the airfield closed in 2012, BAE Systems brought forward redevelopment plans for a major mixed used development on the Airfield and began looking for a buyer in spring 2015.

John Benson, partner at Alder King, which helped facilitate the sale, 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.”

BAE Systems also reconfirmed its support for the development of the new Bristol Aerospace Centre.

As part of this, 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.

“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.”