Vistry Group, the UK’s leading provider of mixed-tenure homes, has formed a second joint venture with Latimer, the development arm of Clarion Housing Group, to deliver a further 1200 homes together at the major new town, Sherford near Plymouth.
Latimer and Vistry have an established partnership at Sherford where they are working in joint venture to deliver a significant number of affordable homes and homes for private sale. These developments utilise both the Linden and Bovis brands. Half of these homes will be forward sold in affordable or PRS tenures, in line with Vistry’s partner delivery model.
On the edge of Plymouth and nestled into the South Hams countryside, Sherford is one of the most ambitious residential developments in the UK. When complete, the new town will have 5,500 quality homes in three distinct neighbourhoods, four schools, community facilities, shops, 84,000 square metres of employment and retail space, abundant green space including a 500-acre country park, and extensive transport links. The construction of Sherford began in 2015 and is one of only a handful of government-backed major housing developments, with £32m invested in the development by Homes England.
Peter Sadler, Managing Director of Vistry Cornwall South West, said: “Sherford is a £1bn investment for Devon and a transformational new town. By partnering with Clarion again to deliver the remaining homes, we can provide more than 50% of them in affordable tenures, whilst using our housebuilding brands to market the open market homes - perfectly demonstrating the strengths of our Group.”
Richard Cook, Chief Development Officer, Clarion Housing Group said:“We are excited to extend our successful partnership with Vistry to deliver more high-quality, affordable homes at Sherford, a transformative development that will have a lasting impact on the local community. At Clarion, our mission is to provide homes and opportunities for those who need them most, and through this collaboration, we are ensuring that over half of these new modern homes at Sherford will be affordable for local families and individuals.”