(Alliance News) - Vistry Group PLC on Wednesday said that it has been chosen by Homes England to carry out the regeneration of City Hospital in Birmingham.
According to the Kent-based housebuilder, the site has outline planning permission for 750 homes, of which more than 50% will be affordable or private rent tenures, with the remaining homes for open market sale.
Vistry has also agreed a second partnership deal in Hardingstone, Northamptonshire, under which it will deliver 250 mixed tenure homes, with more than 50% presold. The site is also formerly owned by Homes England and has outline planning permission.
Most of the new homes will be manufactured off-site using timber frames from the Vistry Works East Midlands factory.
"These deals further evidence the benefit of our long-term strategic partnership with Homes England, enabling the group to deliver a significant number of mixed tenure homes in the Midlands. Furthermore, the unique capabilities of Vistry Works will allow us to utilise timber frame manufacturing at scale across both sites, speeding up housing delivery whilst reducing carbon emissions," said Chief Executive Greg Fitzgerald.
Vistry Group shares were trading 1.4% higher at 1,186.00 pence each in London on Wednesday morning.
By Holly Beveridge, Alliance News reporter
Comments and questions to newsroom@alliancenews.com
Copyright 2024 Alliance News Ltd. All Rights Reserved.
Vistry Grp (VTY)