One part of the greater Bristol area looks sets for a major resurgence in the coming year, according to leading property advisers CBRE.
Filton has been something of a forgotten area in recent years, but Philip Morton, Head of Office Agency & Development at the Bristol office of CBRE, believes that could all be about to change.
Several major schemes are in the pipeline for the area and the project to create a new tourist attraction for the South West now looks certain to get off the ground.
Philip Morton said: “The decision by BAE to close Filton Airfield in 2012 was seen at the time as a sign that the area was in danger of slipping into decline. However, over the last 12 months a series of development schemes have been announced for Filton and the neighbouring Cribbs Causeway. Thousands of homes along with shops, offices and civic amenities are set to be built on the site of the former Filton Airfield.”
The 350 acre site has outline permission for 2,675 homes and 62 acres of office and industrial employment uses and has recently been bought by a Malaysian owned development firm. The major scheme has already been dubbed ‘Filton Keynes’ by many locals.
In recent months, a major project has also been announced for the site of the former Rolls-Royce factory on Gypsy Patch Lane. The engineering firm was looking to market the land in 2007 but had to put its plans on hold due to the recession. However, the £120 m scheme has now been resurrected and includes a hotel, car dealerships, industrial warehouse, offices and trade units.
The owners of The Mall have also announced that a major expansion is on the cards at the South Gloucestershire shopping centre. Added to this, it now seems almost certain that a new aviation visitor centre around the last Concorde to fly is to go ahead. The new centre will be built next to the former airfield and is expected to attract thousands of visitors from across the UK.
Philip Morton added: “The spotlight has been on the centre of Bristol over the last year largely due to the success of the Temple Meads Enterprise Zone. But Filton looks set to become a hive of activity over the next couple of years with several major schemes coming to fruition.
“Businesses and developers are always going to be attracted to the city centre but Filton has several major advantages, including easier access to the motorway network, and is a viable alternative. The two areas are distinct and separate markets but there is plenty of space for both of them in the current economic climate.”
