Vistry Group PLC unveils significant contract wins for partnerships business
The housebuilder said the new deals carry a gross development value of £165mln and will provide over 661 new homes
() said that its partnerships division has secured “significant” contracts and joint venture developments with housing providers which carry a gross development value of £165mln to provide over 661 new homes.
The FTSE 250-listed housebuilder unveiled two mixed tenure developments in Runcorn and Bristol, both in joint ventures, to provide 503 homes including 147 affordable homes. The company also said it has secured contracts totalling £43mln to build 158 new homes and associated mixed uses, working with partners in both Runcorn and Plymouth.
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These projects are an Extra Care scheme and a retirement village for Halton Housing and Inspired Villages respectively and a mixed-use scheme including homes for sale for English Cities Fund.
Vistry also said partnerships have been appointed to the Connected Living framework in London, working with Transport for London and residential property group PLC ().
“I am delighted that we have secured these joint venture developments and negotiated significant contracts with both long-standing and new investment partners. These schemes demonstrate the breadth and strength of our established Partnerships business in the mixed-tenure regeneration, affordable, private rented and older persons markets. They reflect the confidence that our partners have in our ability to deliver quality new homes”, Vistry chief executive Greg Fitzgerald said in a statement.
“With such strong demand for new homes across a range of tenures, we see continued opportunities for growth at pace, working with our partners and further demonstrating the resilience and capacity of our Partnerships business. We are already providing thousands of homes across the country, and these new developments together with the contract and framework wins, underline the strength of our business model in delivering the Government’s commitment to “Get Britain Building”, he added.
Vistry shares were 1.7% lower at 573p in early trading on Thursday.
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