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South West housing association announces partnership with Bovis to build 2,000 homes
South West housing association LiveWest has signed a deal with national house builder Bovis Homes to deliver 2,000 new homes across three sites.
The joint venture will see 678 homes built in Exeter, 398 in Tavistock and 831 in Taunton, all for a mixture of private sale, shared ownership and affordable rent.
It will run for 15 years, and the first homes are set to be completed at Tavistock in August 2021. LiveWest and Bovis have also pledged to build shopping centres and community hubs at the developments, as well as improving roads and transport.
LiveWest, the region’s largest landlord with more than 36,000 homes, said that the partnership would “significantly contribute” to its target of delivering 16,000 new homes over the next 10 years.
Last year, it completed 1,015 homes with 634 for social or affordable rent.
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Russell Baldwinson, executive director of development at LiveWest, said: “We’re pleased to be working with Bovis Homes to build much-needed housing and provide local people and families with secure, long-term homes that they can afford to buy and rent.
“LiveWest is continually looking at innovative ways to provide new homes, and being involved in commercial ventures such as this enables us to generate profits that we can reinvest into building more affordable homes in areas where there is a significant need.
“These three developments mean we provide the affordable homes that would have come forward through planning, but also additional affordable housing which LiveWest and Homes England are funding.”
Keith Carnegie, chief executive of Bovis’ Partnership Housing Division, said: “We are delighted with our joint venture with LiveWest to deliver much-needed, quality homes in the South West.
“This project will transform the area and shows our commitment to housebuilding across the region, boosting investment and jobs. We look forward to a fruitful, long-term partnership with LiveWest.”
Bovis agreed a £103m joint venture with housing association Riverside in April, aimed at delivering 3,600 homes in Northamptonshire.
It also signed a £1.1bn deal to buy the housebuilding arm of Galliford Try earlier this month.
Peter Jones, head of affordable housing for the South West at Homes England, said: “This is an excellent example of Homes England working with partners to build more homes faster, helping communities and providing affordable housing.”
Grant funding has been awarded for the Taunton and Exeter schemes.
