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Vistry launches JV with Homes England
(Sharecast News) - Construction firm Vistry has formed a long-term investment joint venture with Homes England, the UK government's housing and regeneration agency, to accelerate the development of large-scale residential sites across England. Vistry said on Monday that the joint venture, named Hestia, was backed by £150m of capital investment by Homes England and Vistry and was designed to deliver "high-quality, mixed-tenure communities" at pace and scale.
The FTSE 250-listed group said Hestia will focus on the acquisition and development of strategic sites, each ranging from 400 to 3,000 homes, and will incorporate "vital new infrastructure" to support thriving communities.
In addition, the JV will seek to sell parcels of land on Vistry's larger sites to SME developers, reflecting both organisations' commitment to supporting the wider housing sector and enabling greater market participation.
"This partnership marks a significant step forward in delivering sustainable housing growth and unlocking the potential of large-scale sites across the country," said Vistry.
Reporting by Iain Gilbert at Sharecast.com
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