A major development of 3,500 homes, less than six miles from Cambridge city centre, has reached a critical milestone with the acquisition of the Bourn Airfield site.
A new partnership of Greycoat Real Estate, funds managed by Oaktree Capital Management, and Homes England has acquired the site as the first major investment following the launch of their strategic master developer joint venture in December 2024.
As part of its commitment, the new partnership will deliver £115m of investment towards community infrastructure.
Key to this is the expansion of the Cambourne to Cambridge (C2C) busway, with the delivery of Bourn Airfield supporting improved transport infrastructure to benefit the wider community.
Jon Kenny, director of strategic land at Greycoat Real Estate, said: “Our partnership is focused on the acceleration of new homes through early upfront delivery of much needed infrastructure.
“For Bourn Airfield that means delivering 40% affordable housing and facilitating the delivery of the C2C to create a sustainable, well-connected community.
“We are playing an important role in the government’s growth plans for Cambridge and the expansion of this incredible city. By accelerating this vital project, we are not only supporting the Chancellor’s strategic objectives for the Oxford-Cambridge Corridor but also contributing to the region’s long-term prosperity and sustainable growth.”
Bourn Airfield, a former World War Two airfield, was granted planning permission in July 2024. The March 2025 acquisition will provide a significant contribution to necessary housing that supports Cambridgeshire’s ambitions of becoming a global leader in research, technology, and innovation.
The new residential community will complement the recently announced Cambridge Innovation Hub and support the University of Cambridge’s West Cambridge Innovation District, fostering a world-class ecosystem for cutting-edge industries.
By delivering a high-quality, well-connected community, Bourn Airfield is expected to help create an environment that attracts top talent, promotes collaboration between academia and industry, and solidifies Cambridge’s role as a driving force in the UK’s economy.
Image credit © Greycoat
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