Bristol-based property developer Ashfield Land has joined forces with housebuilder Barratt Developments for one of its largest schemes so far – a £600m, 2,450-home development in Buckinghamshire.
Ashfield – a major landowner near Bristol and best known in the city for its redevelopment of the landmark former Maples store in Queens Road, Clifton – is to start work later this year on the development in Aylesbury which also includes 25 acres of employment land, two schools, neighbourhood centres, and associated infrastructure including two new link roads. 
The company acquired 290 acres of the 756-acre site in the depth of the recession in 2009. It gained outline planning permission from Aylesbury Vale District Council last December in a joint application with Barratt Strategic.
Ashfield’s Nick Jones said: “The success of this application clearly demonstrates our financial ability to invest speculatively. Our expertise in the market enabled us to identify a suitable opportunity while assessing and qualifying any associated risk.
“We were then able to make very good progress with the application for what is a major development for Buckinghamshire. It is a very exciting project and the fact that we are at this stage and progressing development this year reflects our confidence in the market.
“In 2009 the UK economy was in dire straits but we were looking long term and beyond the economic difficulties of the time. Our strategy is now paying dividends and we are in a strong position to make progress with further developments.”
Head of land at Barratt North London, Matthew Taylor, added: “This successful collaboration between Barratt Developments and Ashfield Land will create an attractive community which people aspire to live and work in. We are very proud of this exciting project that will be a leading example of how to create sustainable communities over the coming years.”
Ashfield Land, which has a portfolio worth more than £250m across all sectors, is actively seeking commercial development and investment opportunities, as well as strategic land deals, in locations across the UK.
It owns 180 acres of greenfield land close to Junction 17 of the M5 and The Mall regional shopping centre jointly with housebuilder Persimmon Homes.
The scheme will include 1,100 houses, a district centre, school, a network of high-quality green spaces along with sustainable transport links.
