The mixed tenure development will be delivered in a 50:50 joint venture of which 50% will be presold for affordable housing. Working in partnership with Abri, the development will also provide significant community infrastructure including a local centre, commercial and retail space, a primary school and a 60-bed care home.
Vistry Group will also be delivering 400 homes at a new site at Hatchfield Farm, Newmarket. Under our unique Partnerships model, 200 of the homes have been pre-sold to Clarion Housing Association for affordable housing. The remainder of the scheme will be sold on the open market utilising both our Bovis Homes and Linden Homes brands to maximise sales and speed of delivery.
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Both deals, totalling 1,900 homes, significantly contribute to the Group’s strategy of focusing on its high-growth, capital light partnerships model.
Greg Fitzgerald, Chief Executive of Vistry Group, said: "These two sites support our strategy of delivering a significant number of mixed-tenure homes with our affordable housing partners. We have well-established, long-term relationships with Abri and Clarion and are pleased that at both sites we are providing additional affordable housing in excess of our Section106 obligations. The sites will also provide long-term visibility to our supply chain partners and certainty of work."
