Vistry Group PLC Vistry Partnerships Strengthens Forward Order Book (9807I)
07 April 2020 - 4:00PM
UK Regulatory
TIDMVTY
RNS Number : 9807I
Vistry Group PLC
07 April 2020
VISTRY PARTNERSHIPS STRENGTHENS FORWARD ORDER BOOK
Vistry Partnerships, part of Vistry Group PLC, announces that it
has exchanged contracts with Homes England on a portfolio of six
developments that will provide more than 570 new homes across the
country. The portfolio has a gross development value of GBP105m,
with the vast majority of the delivery (72%) being much-needed
affordable homes.
The six developments will provide a range of accommodation,
including more than 400 affordable homes delivered through
contracts with Registered Provider partners. The new developments
are in Portsmouth, Dudley, Chesterfield, Birmingham, Bridgwater and
Shafton in Yorkshire. Vistry Partnerships has been working closely
with Homes England to agree flexible delivery terms which allows
the progression of planning applications and pre-commencement works
during the current health crisis.
In addition, Vistry Partnerships has secured affordable housing
contract wins totalling GBP108m to build 810 new affordable homes
for Registered Providers in both the north and south of England.
The contracts will be delivered by two of Vistry Partnerships
newest businesses, Vistry Partnerships Yorkshire and Drew
Smith.
The business is actively reviewing its portfolio of projects in
order to expedite the delivery of essential affordable homes and
remobilise sites where this can be safely done in line with
Government guidance.
Greg Fitzgerald, Chief Executive of Vistry Group, said:
"In what is a very challenging time for the housebuilding and
construction industry, I am delighted that we have secured
significant sites and contracts with long standing partners. We are
already providing many hundreds of homes with Homes England across
the country, and these new developments together with the
affordable contract wins, will further that successful partnership
and contribute a significant number of affordable homes for local
people.
"Despite the current Covid-19 restrictions, the demand for
affordable, quality homes remains high and we are very well placed
to get these under way at pace."
For further information please contact:
Vistry Group PLC 01675 437160
Susie Bell, Head of Investor Relations 020 7250 1446
Powerscourt
Justin Griffiths, Nick Dibden, Victoria
Heslop
About Vistry Partnerships
Vistry Partnerships is the specialist partnerships housing
division of national homebuilder Vistry Group PLC. Working with
local authorities, housing associations and investors, Vistry
Partnerships is one of the UK's leading providers of affordable
homes of all tenures, delivering vibrant and substantiable places
to live, at a time when they are needed more than ever.
In 2017, Vistry Partnerships acquired Drew Smith - a leading
development, homes and construction businesses focused on the south
of England. It also regularly calls on the skills and expertise of
Vistry Group's national sales brands, Bovis Homes and Linden
Homes.
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