Vistry Group PLC Partnerships signs significant new contracts (1258C)

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RNS Number : 1258C

Vistry Group PLC

15 October 2020

Partnerships signs significant new contracts

Vistry Group PLC announces that Vistry Partnerships has secured contracts and exchanged on joint venture developments with housing providers with a gross development value of GBP165m to provide over 661 new homes.

The two mixed tenure developments, both in joint venture, will provide 503 homes, including 147 affordable homes. The projects are in Runcorn with Together Housing and in Bristol with Goram Homes (a subsidiary of Bristol City Council.)

In addition, Vistry Partnerships has secured contracts totalling GBP43m to build 158 new homes and associated mixed uses, working with regulated partners in Plymouth and Runcorn. The projects are an Extra Care scheme and a retirement village for Halton Housing and Inspired Villages respectively and a mixed use scheme including homes for sale for English Cities Fund.

Partnerships has also been appointed to the Connected Living framework in London, working with TfL and Grainger.

These developments and contract wins further amplify Vistry Partnerships' established role as a key partner with Registered Providers and local authorities.

Greg Fitzgerald, Chief Executive of Vistry Group, said:

"I am delighted that we have secured these joint venture developments and negotiated significant contracts with both long-standing and new investment partners.

These schemes demonstrate the breadth and strength of our established Partnerships business in the mixed tenure regeneration, affordable, private rented and older persons markets. They reflect the confidence that our partners have in our ability to deliver quality new homes.

With such strong demand for new homes across a range of tenures, we see continued opportunities for growth at pace, working with our partners and further demonstrating the resilience and capacity of our Partnerships business. We are already providing thousands of homes across the country, and these new developments together with the contract and framework wins, underline the strength of our business model in delivering the Government's commitment to "Get Britain Building".

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October 15, 2020 02:00 ET (06:00 GMT)