A significant development worth £580m is underway, with Blackstone Real Estate and Regis set to own the properties, managed by Leaf Living. The portfolio, focused in the south east, will be developed across 36 sites, utilizing Vistry’s former house building landbank. Reports Construction Journal
The development aligns with Vistry’s Partnerships strategy, which involves pre-selling a significant portion of the homes. In this case, approximately 65% of the properties will be pre-sold, supporting the company’s medium-term financial goals. This approach allows Vistry to drive towards its targets while delivering new homes to the market.
The first completions are anticipated by the end of June 2024, with the majority of homes expected to be finished within the next two years. This timeline indicates a swift and efficient development process, promising to bring new residential opportunities to the south east region. As the project unfolds, it will be interesting to see how it contributes to the local housing market and the companies involved.
“This year we are on track to deliver more than a 10% increase in new home completions, playing a key part in helping to address the UK’s acute housing shortage.”
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