Spring, the urban regeneration arm of Castlemore Securities, has bought a former Aston Martin factory in Buckinghamshire for a £50m residential development.

The six acre site on Tickford Street, in Newport Pagnell, has been an Aston Martin factory since the 1950s. The last Aston Martin Vanquish rolled off the line in July this year.

As part of the deal to buy the site, Spring has agreed to retain the historic buildings. Some of the buildings date back as far as the 1820s, when the site was first used by Salmons & Sons to manufacture coaches and carriages.

Spring is now planning a mix of residential and commercial units on the site. Managing director of Spring Andy Wilkins said: ‘To be able to retain and redevelop the very buildings that were used as the boardroom by Aston Martin is one of many exciting prospects for the team.’

Knight Frank and Eversheds advised Aston Martin, and Wragge & Co represented Spring.