Vistry Partnerships, part of the Vistry Group, has signed a £40million development agreement with Clarion Housing Group to increase the number of affordable homes in the new town of Sherford in Plymouth.
Vistry Partnerships is building 3,500 homes in Sherford, of which 1,500 are being built in partnership with Latimer, the development arm of Clarion Housing Group, as part of a joint venture formed in 2018. The newly signed agreement will see a further 211 new homes made available for social and affordable rent as well as shared ownership through Clarion Housing, increasing the affordable housing provision in the new town.
Sherford is set to become one of the region’s most vibrant and thriving communities. When complete, Sherford will have 5,500 homes in three distinct neighbourhoods with four schools, community facilities, shops, businesses, significant green space, a 500-acre community park and will provide homes and communities for thousands of people.
Richard Cook, Group Director of Development at Clarion Housing Group, said: “The signing of this new agreement marks a milestone in our joint venture with Vistry Partnerships and we’re delighted to be working together to deliver more affordable homes in the new town of Sherford. Alongside our multimillion pound regeneration of Barne Barton, this scheme underlines our commitment to providing high-quality, affordable and sustainable homes for the people of Plymouth and the surrounding areas. We’re excited to see plans for Sherford come to life, creating a vibrant community with homes of different tenures to meet the needs of local people.”
Kathryn Pennington, Vistry Partnerships, Regional Development Director, commented: “We are delighted to be working with Clarion on this inspiring project in the South West. A genuine partnership has been formed, working together to create a sustainable community and beautifully designed homes with a more balanced mixed tenure offering.
“Our partnering approach with Clarion is centred on a shared objective and passion to deliver great places to live with placemaking at its heart. This new legacy community will make a significant contribution to high-quality affordable homes for local people.”
Stephen Teagle, Chief Executive of Vistry Partnerships, said: “We are already working with Clarion on delivering new homes across the Country, and this extension of our joint venture platform enables us to accelerate delivery and provide more housing choice for local people. The alignment of ambition, creating great places and quality homes is central to our success”
The Sherford Consortium is a partnership between award-winning national housebuilders, Vistry Partnerships – selling as Bovis Homes and Linden Homes – and Taylor Wimpey. Responsible for the creation of Sherford, the Consortium will oversee £1bn of investment to deliver 5,500 homes and countless community amenities over 1,200 acres of land – plus boosting the local economy and workforce. In building this unique new town, the Sherford Consortium is bringing to life a vision carefully developed over 20 years to create a lasting legacy.
In January Vistry Partnerships became part of the newly created Vistry Group, which brings together the energy and talents of Bovis Homes, Linden Homes and Vistry Partnerships. This has ensured Vistry Partnerships is now the largest provider of affordable housing across the UK and has two strong housebuilding brands to market all private sale homes.