Vistry deal to build 1,400 housing association homes

Aaron Morby 4 years ago
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A joint venture between housing association Aster Group and Vistry Homes will deliver 1,359 new homes by 2024.

The partnership consists of five joint ventures across the south of England that require investment of £167m.

More than a quarter of the homes will be for affordable tenures – 250 for affordable rent and 96 for shared ownership, with the rest for private sale.

Vistry Group was formed last month from Bovis Homes’ acquisition of Galliford Try’s housebuilding arm Linden Homes and the partnerships division.

To date, developments run between Aster and Vistry Homes have built more than 500 homes in the UK.

The most recent joint venture to get underway is a 130-unit development in Kilnwood Vale, Horsham, West Sussex.

Amanda Williams, group development director at Aster Group, said: “We’ve set ourselves ambitious delivery targets and this partnership will play a vital role in meeting these goals.

Stephen Teagle, chief executive at Vistry Partnerships, said: ‘’Our joint venture partnership with Aster Group is making a real difference – enabling us to deliver more homes and more choice for customers. It is also generating important additional capacity to support more affordable homes.’’

Aster, which built 1,156 homes in the year to the end of March 2019, has a £2bn investment plan to deliver more than 10,000 homes over the next seven years.

It operates a mixed delivery model which sees it build housing via Section 106 agreements, joint ventures and its own land-led schemes alongside a growing focus on community-led projects.

 

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