26
March 2024
Vistry Group
PLC
Vistry signs new Partnerships
agreements to deliver 1,900 mixed tenure homes
Vistry Group has entered into an
agreement with registered housing provider Abri to deliver 1,500
quality new homes in Arundel at the Ford Airfield Site.
The mixed tenure development will be
delivered in a 50:50 joint venture of which 50% of the homes 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.
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."
Gary Orr, Group Chief Executive of Abri,
said:
"This transformative development
will provide many hundreds of new, quality affordable homes, as
well as new services and facilities for the local community.
By working in joint venture with Vistry, we've unlocked the full
potential of the site, making sure it delivers the best outcomes
for the community. We want to play our role tackling the
nation's housing crisis and Ford Airfield will contribute
significantly to Abri's commitment to build 10,000 homes by 2030,
whilst we will reinvest any surplus to improve existing homes and
services, invest in communities and continue to build more
affordable housing."
Richard Cook, Group Director of Development, Clarion Housing
Group, said:
"Working with Countryside
Partnerships, we are proud to be delivering affordable housing at
Hatchfield Farm in Newmarket. Clarion's focus is on
delivering sustainable, high-quality homes and building communities
over the long term."
For further information please
contact:
Vistry Group PLC
Tim Lawlor, Chief Financial
Officer
Susie Bell, Group Investor Relations
Director
FTI
Consulting
Richard Mountain / Susanne
Yule
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07469 287335
020 3727 1340
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About Vistry Group
Vistry Group is the UK's leading
provider of affordable mixed tenure homes. Our purpose as a
responsible developer is to work in partnership to deliver
sustainable homes, communities and social value, leaving a lasting
legacy of places people love. We are a young and dynamic
business with a Partnerships-led approach, delivered under our
Countryside Partnerships brand, and an exciting timber-frame
manufacturing operation called Vistry Works, running three
factories and supporting our drive towards net zero
carbon.
Delivering thousands of homes every
year for the affordable and private marketplaces, Vistry Group also
has an unmatched portfolio of retail brands, each with a rich
history and strong reputation: Linden Homes, Bovis Homes and
Countryside Homes.
We are a multi award-winning
housebuilder and the Group has again been awarded the 5 Star Rating
by the Home Builders Federation following
the latest industry's Customer Satisfaction Survey. For
more information go to www.vistrygroup.co.uk