A consortium of the UK’s biggest housebuilders has bought 100 acres in South Wales from the Welsh Assembly Government for a £350m development.

Taylor Wimpey, Persimmon Homes and Barratt Homes bought the land, at the Waterfront Barry regeneration scheme in South Wales, from the Welsh Assembly and the Associated British Ports.

The consortium wants to build 2,000 new homes – including 400 affordable homes – on the site, as well as 300,000 sq ft of commercial and leisure space.

The deal signals the end of Associated British Ports involvement in the regeneration scheme, which has been ongoing since the Barry joint initiative was set up to transform Barry’s dockland area in 1991.

New development <br>The new development will be built to the same sustainability standards as the first two phases of redevelopment at the docks.

Leuan Wyn Jones, Welsh Assembly minister for the economy and transport, said: ‘It is excellent news to see some of the UK’s leading housebuilders taking a key role and helping to set the highest environmental standards for this development. Waterfront Barry plays a vital role in the ongoing regeneration of South Wales and these proposals will provide a significant boost for the area and create new jobs through the commercial and leisure developments.’

Agents on the site are Cooke & Arkwright and Atisreal.