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Clarion announces 1,000-home joint venture with Vistry Group
The UK’s largest housing association has agreed a £400m joint venture to deliver a 1,000-home development in the East Midlands.
Clarion Housing Group, which owns around 125,000 homes, has sealed a partnership deal with Vistry Group.
Based in Collingtree, near Northampton, the scheme will include 700 homes for private sale, 195 for shared ownership and 105 for affordable rent.
The partnership will also invest £18m to support building a new primary school and community centre.
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Vistry Group was established at the start of this year when Bovis Homes completed a £1.1bn deal to buy Galliford Try’s Linden Homes and Partnerships businesses.
Vistry Partnerships, the partnership arm of the business, has set targets to build more than 6,000 homes per year and achieve revenues of £1bn.
Last month, it agreed a 1,359-home joint venture with Aster Group.
Bovis Partnerships, which merged with Galliford Try Partnerships following the acquisition, has already agreed multiple joint ventures with Clarion, including a 1,496-home site in Sherford.
John Lougher, strategic land managing director at Bovis Homes, which is now part of Vistry Group, said: “We are delighted to announce the joint venture with Clarion Housing Group to deliver much-needed homes in the area and look forward to working closely with them. Local house hunters will benefit from a wide range of stunning homes within a popular, easy-to-reach location.
“The range of housing on offer – from one-bed apartments to five-bed houses – means the development will appeal to a wide range of people at different stages of their lives, creating a real sense of community.
Richard Cook, group director of development at Clarion, added: “This is our fourth joint venture with Vistry Group, as we continue to build a relationship with shared values and a common commitment to creating sustainable and mixed communities.”
