Sovereign Network Group (SNG) and Vistry Group have formed a new joint venture partnership to deliver 595 new homes in Thornbury, South Gloucestershire.
The partnership follows outline planning consent for the site which was secured in February 2023.
The site aims to provide up to 50 per cent affordable homes.
Vistry plans to sell the open market homes via its retail brands.
The development is in line with SNG’s ambition to deliver 25,000 new homes over the next ten years.
The new Labour government pledged to build 1.5 million homes over the next five years.
Homes in the new development aim to meet SNG’s standard for high quality, environmentally sustainable homes.
Planning permission also includes:
- A primary school
- Retail and community space.
- 44,000 sqm of public gardens and recreational open space,
- 3,000 sqm of allotments
- 120,000 sqm of natural and semi-natural open space
The partnership plans to contribute more than £6.5 million towards the improvement of local infrastructure and transport, and provide the council with support to operate the school and nursery.
Susan Scholfield, regional managing director of Vistry Bristol, said: “This is a transformative development opportunity in Thornbury that can provide a significant number of high-quality, mixed tenure homes, including a high proportion of affordable homes.
“By working in joint venture partnership with SNG, we can share expertise and significantly enhance the local housing supply, offering local people a wide range of housing choices.”
Tom Titherington, chief investment and development officer at SNG, said: “This site is a positive step towards delivering our ambitious plans for tens of thousands of good, affordable, new homes that are desperately needed.”
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