The 25-acre brownfield site near Cheltenham has been acquired by Bloor Homes from leading development company Ashfield Land in a £10 million deal, it was announced today.

Bristol-based Ashfield Land obtained planning permission for a mixed-use scheme comprising 129 residential units and 20,000 sq ft of employment space, along with community facilities and public open space.

The new development, at Stoke Orchard, is focused around the Dean Brook that runs through the site. Plans include ecological improvements to enhance the brook and surrounding area.

Announcing the deal, Ashfield Land managing director Andrew Fisher said: “It is with great pleasure that I can today announce that we have sold the former Coal Research Establishment site at Stoke Orchard to national housebuilder Bloor Homes.

“The proposed development is an exciting project which I am confident will become a model of how to commercially develop energy efficient, community sensitive housing-led schemes in rural areas.”

Ashfield Land acquired the brownfield site in 1995 as an income-producing investment and has since evolved into a sustainable mixed-use scheme. The project is designed to a high environmental standard and will include BREEAM Excellent for the employment aspect. The residential element has been designed to achieve the Code for Sustainable Homes Level 4 – the single national standard in the design and construction of sustainable homes and a means for driving continuous improvement, greater innovation and exemplary achievement in house building, he added.

News of the deal follows the recent announcement by Ashfield Land that its exciting £50 million plans to regenerate part of Swindon town centre have taken a major step forward.

The company has now acquired the 50% of Regent Circus Ltd that had been held by joint venture partner Parkridge Retail Ltd, which went into liquidation in August. Negotiations with liquidator PWC were successfully concluded and the company is now pressing ahead with the stalled scheme. Ashfield Land now owns 100% of Regent Circus Ltd.

The Regent Circus scheme has received detailed planning permission from Swindon Borough Council. The plans include a 52,000 sq ft Morrison’s superstore, eight restaurants and bars, a 30,000 sq ft six-screen cinema, 450-space car park, and converting the former Victorian technical college into offices. Ask is the first national restaurant chain to lease a unit.

Ashfield Land is a property development company with a proven pedigree. Its success, underpinned by significant equity resources, enables it to pursue fresh opportunities irrespective of the current economic turbulence. With a portfolio valued in excess of £250m across all sectors, Ashfield Land has established positive and lasting relationships based on trust. It has offices in Bristol, Glasgow and Birmingham and will consider acquiring sites and properties throughout the UK in all sectors. For more information visit www.ashfieldland.co.uk.

Andrew Fisher, managing director of Bristol-based developers Ashfield Land, said he was delighted that proposals for the much-needed family homes had been approved by South Gloucestershire Council.

The Catbrain Lane, Cribbs Causeway, site was acquired by the two companies who used their planning expertise to develop proposals that are sympathetic to the location, said Mr Fisher.

He added: “It is well documented that there is a growing demand for new homes throughout the country and north Bristol is no exception. Along with our joint venture partners Persimmon we have worked hard and carried out consultations to make sure these proposals meet, and indeed exceed, the expectations of families who need high quality homes in this excellent location.”

Ashfield Land is a property development company with a proven pedigree. Its success, underpinned by significant equity resources, enables it to pursue fresh opportunities irrespective of the current economic turbulence. With a portfolio valued in excess of £250m across all sectors, Ashfield Land has established positive and lasting relationships based on trust. It has offices in Bristol, Glasgow and Birmingham and will consider acquiring sites and properties throughout the UK in all sectors.

The Bristol-based property company has now acquired the 50% of Regent Circus Ltd that had been held by joint venture partner Parkridge Retail Ltd, which went into liquidation in August.

Ashfield Land managing director Andrew Fisher today revealed that negotiations with liquidator PWC had been successfully concluded and the company would now press ahead with the stalled scheme. Ashfield Land now owns 100% of Regent Circus Ltd.

The Regent Circus scheme has received detailed planning permission from Swindon Borough Council. The plans include a 52,000 sq ft Morrison’s superstore, eight restaurants and bars, a 30,000 sq ft six-screen cinema, 450-space car park, and converting the former Victorian technical college into offices. Ask is the first national restaurant chain to lease a unit.

Ashfield - Regent Circus

Mr Fisher added: “We have successfully negotiated with the liquidators PWC to acquire the 50% share of the development company held by our former joint venture partners.

“This is excellent news because it ends any uncertainty associated with the Regent Circus scheme and means we can now press ahead with the regeneration of a key area of Swindon town centre.

“We are of course very pleased that Morrison’s has committed to anchor the scheme, while we confidently expect to be able to announce the operators of the multi-screen cinema shortly. We also have a great deal of interest from national restaurant chains. To have so many enquiries from major retailers demonstrates how attractive the Regent Circus development is and the appeal of a rejuvenated town centre in Swindon.”

The Regent Circus redevelopment proposals were influenced by the New Swindon Regeneration Framework, The Promenade master plan and the site master plan. Ashfield Land acquired the freehold in 2006 which facilitated Swindon College’s relocation to a new £17 million campus. It will fund the development with a mixture of debt and equity. Work on demolishing the existing college buildings is expected to begin before the end of the year.

Ashfield Land is a property development company with a proven pedigree. Its success, underpinned by significant equity resources, enables it to pursue fresh opportunities irrespective of the current economic turbulence. With a portfolio valued in excess of £250m across all sectors, Ashfield Land has established positive and lasting relationships based on trust. It has offices in Bristol, Glasgow and Birmingham and will consider acquiring sites and properties throughout the UK in all sectors. For more information visit www.ashfieldland.co.uk.

During an interview which took place at a Bristol breakfast event staged by Jones Lang LaSalle, James discussed some of our many exciting projects across the UK and gave an update on our plans to redevelop a key area of Swindon town centre.

Click on the link below to watch the video. To see Nick’s clip play from 1minute 22 seconds.

More than 150 property consultants, architects, developers, agents and lawyers celebrated the beginning of a new era for Ashfield Land who have recently moved to Colmore Row, which is situated in a distinctive location within the heart of Birmingham City Centre.

The successful Office Launch Party was held in the spacious Courtyard at the Hotel du Vin, one of the largest hotels in Birmingham, in the evening of Thursday 12^th May 2011.

Nick Jones, Director, welcomed everyone to this special event and explained to guests that Ashfield Land had emerged well from a difficult time for all property companies and was now actively seeking land and development opportunities to acquire.

The building is located in a prime position within Bristol’s most affluent suburb. The tenants include HSBC, Southampton University Hospital NHS Trust and Rider Levett Bucknall.  The building has been sold for just under £2.7 million reflecting a net initial yield of 8%.

Ashfield Land acquired the building in 2005 and since then has actively managed the property, including the recent renewal of the ground floor lease to HSBC who have occupied the building since it was constructed in 1975.

James Digby, Director at Ashfield Land said:

“We are very pleased to have achieved our asking price on this building, particularly in a difficult investment market.  The sale clearly demonstrates Ashfield Land’s ability to drive asset value through active management initiatives”.

The second floor amounting to 6,987 sq. ft has been let to the international assurance group Lloyd’s Register which is relocating from Westbury on Trym to the more central location of St Catherine’ Court in Clifton. Lloyd’s Register has taken a ten year lease and will take occupation from May 2011.

James Digby, director of Ashfield Land says:

“We are delighted to have signed Lloyd’s Register, and welcome a global organisation with an unparalleled reputation such as theirs to the building. The deal means that we now have only the top floor available to let comprising 6,805 sq ft for immediate occupation.”

Lorraine Hurdman joins the team in Birmingham and brings a wealth of secretarial experience to her role supporting Nick Jones and John Gray, having previously worked for the property director at the Ryland Group for eight years.

Ashfield Land Ltd is delighted to announce the recent submission of a planning application to Aylesbury Vale District Council, for the land at Bierton Farm, situated to the east of Aylesbury.

Working in partnership with Barratt Strategic, the proposals will deliver the following:

• 2,450 homes including up to 40% affordable homes

• Creation of three distinct ‘villages’

• 10 hectares of land providing 377,500 sq. ft of B1, B2 and B8 employment

• Provision for two primary schools and a site for a secondary school

• The delivery of the Eastern and Stocklake link roads

• Strategic flood defences to protect the town centre

• Significant areas of new green infrastructure including:-

- Wetlands wildlife conservation area

- Enhanced wildlife habitat

This application has been submitted at a time when the outcome of the emerging the Localism Bill is uncertain and when recent High Court decisions have reinstated regional planning policy.

Ashfield Land Ltd and Barratt Strategic are keen to work with the local planning authority and the public as they continue to promote the site as part of a review Core Strategy. Through this planning application, we believe we are able to detail their approach to the delivery of homes, jobs and infrastructure which will meet the future needs of Aylesbury.

For further information go to: www.aylesburyeast.co.uk