UK housebuilder Barratt Redrow has formed a joint venture (JV) partnership with Persimmon to deliver a major housing development in Wiltshire.
The companies have signed the new Ashton Park agreement which includes plans to build 2,500 residential homes in Trowbridge.
Other key aspects of the project include 68 hectares of public open space including play areas, green spaces, sports pitches, and allotments.
As part of biodiversity and sustainability commitments, the plans feature retention of natural habitats, new planting, sustainable drainage, and an ecology visitors’ centre.
The social value portion of the agreement includes funding for local education, health, transport, and recycling services.
A mix of residential properties will be built by:
- Barratt
- David Wilson Homes
- Redrow
- Persimmon
- Charles Church
“The plans are really exciting and we are delighted to be part of this joint venture to bring more homes to local communities in Trowbridge,” said Rob Hart, managing director at Barratt Homes Bristol.
“Along with initiatives like the key worker deposit scheme and shared ownership options that are proving so successful, it will help more buyers to get on the housing ladder.”
Barratt-Redrow merger
In October, the Competition and Markets Authority (CMA) cleared the £2.5 billion merger between Barratt Developments and Redrow.
It followed an initial review by the competition watchdog, which found the acquisition of Redrow by Barratt raised potential ‘competition concerns’ in the supply of new-build private residential housing in one local area around a Barratt development in Whitchurch, which includes another in Nantwich by Redrow.
To address the ‘realistic prospect of a substantial lessening of competition’ (SLC) in the overlapping areas, the developers signed a mandate with real estate company Savills, agreeing to meet certain commitments and criteria, allowing the deal to proceed.
Later that month, Barratt Redrow announced plans to close nine offices across the country as part of a £90 million cost-saving measure.
In September, Barratt confirmed a “challenging year” for housebuilders had led to revenue and profits falling.
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