Vistry Partnerships, formerly known as Galliford Try Partnerships, has joined forces with Yarlington Housing Group to provide 150 new homes at Hainbury Farm in Ilchester.
Vistry Partnerships will build this mixed tenure housing site and working with Yarlington will increase the level of affordable housing on the site from 35% to 50%. This will deliver 36 homes available for social rent and another 39 homes for shared ownership, featuring a mixture of one-bedroom flats and two, three and four-bedroom houses.
The remaining 75 homes will be sold on the open market under the Linden Homes brand. The new development, named Hainbury Meadows will offer a collection of 2, 3 and 4 bedroom homes and will be available to purchase using the government backed Help to Buy scheme on all open market homes on the development, helping buyers move onto or up the property ladder.
Work will begin on the new homes this spring and the final phase of development is expected to be completed by July 2023.
Marc Thompson, Managing Director Vistry Partnerships South West added; “We are passionate about creating sustainable and vibrant new communities and are delighted to have joined forces with our partners, Yarlington Housing Group to deliver this fantastic new site and deliver much needed homes for local people.
We are serious about tackling the South West’s housing shortage, transforming lives and landscapes by delivering quality homes throughout the region.”
The introduction of more affordable housing will allow more people to get onto the housing ladder with average earnings in the area approximately £25,215 and average property prices more than nine times average earnings*.
On the homes, Stephen Lodge, Executive Director of Development and Strategic Asset Management for Yarlington commented:
“Meeting the need for affordable housing is our priority and that’s why we’re delighted to be working with Vistry Partnerships to provide 50% affordable homes on the site. In the south west house prices are much higher than average salaries so the need for affordable housing is even more acute. These new homes will ensure people who have grown up in the area can remain local and will be invaluable to meeting people’s needs.”
The new homes add to Vistry’s extensive development in the south west with over 1,000 homes currently in development across the South West.