Vistry Group has signed a deal to deliver nearly 260 new homes which will form part of a major development in South Devon.
The housebuilder has agreed to a £76 million contract, via its Countryside Partnerships brand, with housing association LiveWest for the expanding scheme in Sherford, on the outskirts of Plymouth.
Under the deal, 114 affordable homes will be delivered in partnership with LiveWest and 145 private homes will be built under the Countryside Homes brand – 259 in total.
The build forms part of the wider Sherford development which, when complete, will have a total of 5,500 homes across three neighbourhoods, as well as a town centre, four schools, leisure centre and sports facilities, transport links and a 500-acre country park.
The news follows Vistry signing a major deal to deliver 5,000 new homes for the Build-To-Rent (BTR) market over a five-year period with Sigma Capital Group’s BTR brand, Simple Life Homes.
Stephen Teagle, chief executive, Countryside Partnerships, said: “We are very pleased to have exchanged contracts with LiveWest to deliver a mix of much-needed homes across the South West.
“This latest scheme is a great reflection of the ability of our partnerships model to provide the right mix of homes that communities require, and we are thrilled to be doing so in collaboration with our long-term partner LiveWest for the residents of both the South Hams and Plymouth.”
Gareth Jones, development director for LiveWest, added: “Countryside shares our social impact and sustainability values and our desire to accelerate the much-needed delivery of good quality, affordable homes across the South West.”
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