Vistry Group is eyeing an area of South Oxfordshire for a new development that could accommodate thousands of new homes as well as community amenities.
The business has entered into a hybrid agreement to promote more than 650 acres of land to the north of the civil parish of Berinsfield in the county.
Inside the deal: Vistry is understood to be working on the development deal alongside property consultants Bidwells, with law firms Charles Russell Speechlys and Memery Crystal also said to be advising on the scheme.
The site has capacity for 3,000 new homes, alongside the delivery of sports pitches, green space, education and community facilities, should planning be secured.
Vistry said it will now be promoting the land through the emerging Local Plan, a guide to decisions on future development proposals and the needs of the area, led by the local authority.
Martin Leach, managing director of Vistry Major Projects, said: “I am excited to work alongside Bidwells, and the landowners to secure planning and deliver an exemplar development of mixed-tenure housing, employment and community facilities, which will help address the chronic undersupply of new housing and create a place our residents will be proud to call home.”
Last year, the FTSE 250 company announced a major business restructure merging its Housebuilding and Partnerships operations, resulting in hundreds of staff being let go.
The business is currently on track to deliver a more than 10 per cent increase in new home completions this year.
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