Vistry Group, the UK’s leading provider of mixed-tenure homes, has acquired a site in Worcester that will deliver 233 homes.
The site, purchased from Bloor Homes, benefits from outline planning permission. It forms part of the larger Elgar Park development, an established and thriving community being built by Bloor.
Vistry has already secured reserved matters permission for the first 72 homes, with construction set to commence this month.
Vistry has partnered with long-standing partner Sigma, a leading provider of BTR (Build to Rent Sector) homes, to deliver 70 of the homes in this tenure for its BTR brand Simple Life Homes. The remainder of the development will comprise 33 homes for social rent, 14 homes for shared ownership and 116 homes for general market sale with one of Vistry’s housebuilding brands.
Supriya Ray, Managing Director of Vistry Cotswolds, said: “We’ve worked closely with Bloor to secure this site which will deliver a significant number of mixed-tenure homes. By collaborating again with our long-term partner Sigma, we can provide a range of high-quality homes for rent, whilst also using the Group’s well-known open market housebuilding brand Bovis Homes, giving local people an excellent range of housing choices."
Robert Mitchell, Investments & Acquisitions Analyst at Sigma said: “We’re delighted to be part of this new development with our trusted, long-term partners, Vistry Group. Our Simple Life Homes will form a mix of 2, 3 and 4 bedrooms – perfect for local families looking to rent a high quality home whilst benefitting from a professional approach to renting. This is an exciting development, as it is a new area for Simple Life, adding to the c.7,700 existing portfolio of homes across the UK.”