MORE than 500 new homes are being planned for Farnborough in what is being described as a flagship scheme for the town.

Award-winning house builder Redrow is looking to put up a mix of apartments, town houses and affordable housing adjacent to the town’s business park.

The company has already acquired a 12-acre portion of the site from owner Slough Estates, which is restoring the site with 110,000 square feet of office and business space.

The planned homes would be located adjacent to the park’s heritage quarter, alongside two Grade 1 listed wind tunnel buildings, which are being retained and restored.

Stuart Rowlands is the managing director of Basingstoke-based Redrow Homes (Southern).

“This will be a flagship scheme for Redrow and very important for the regeneration and growth of Farnborough itself, complementing ongoing schemes such as the revitalisation of the town centre,” she said.

“Our proposed development also has the potential to fulfil a significant element of the 43,000-plus dwelling still required across Hampshire between now and 2011 according to the County Structure Plan Review – at the same time complying with government guidance to make the most of brownfield land within existing built-up areas in sustainable locations.”

Under the proposals, Redrow will refurbish two buildings, the first of which will be converted into 32 one- and two-bedroom apartments, while the second will become 53 apartments.

The company is also looking to build a further 381 apartments and 70 family homes, including a significant proportion of affordable housing.

Graeme Steer, development manager at Slough Estates, said: “The location of a residential site such as this, next to both the town centre and the business park, is unique.

“It will be a real benefit for future residents to be situated so close to employment opportunities and a number of key amenities such as the café, creche and heritage centre.

“For decades, the RAE site in Farnborough was known to be the home of tremendous scientific and technological innovation and so it will be great to see this combination of residential and business park helping to re-establish Farnborough as a key business destination.”

The news comes after plans were announced for a new hotel and leisure complex at the business park.

Village Hotels & Leisure Clubs, one of the brands operated by De Vere Plc, is currently putting together a planning application for the hotel, which could provide employment for 250 members of staff.

Despite the positive spin, the homes plans were only cautiously welcomed by Farnborough councillor Charlie Fraser-Fleming, who said that the developers would have to consider three main issues before they could go ahead.

These were how the development would affect public safety, the mix of accommodation available and its proximity to the heritage site.

“In a sense I am pleased because this development might be an opportunity,” he said. “On the face of it, I may not be as enthusiastic as I was about the hotel plans but I am not against it totally.”

Subject to gaining planning permission from Rushmoor council, it is hoped that work would start this summer, with the first legal completions anticipated next year.