Vistry Group PLC Vistry Partnerships Strengthens Forward Order Book (9807I)

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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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April 07, 2020 02:00 ET (06:00 GMT)