Vistry Group plc (LON:VTY) has announced the formation of a long-term investment joint venture with Homes England, the Government’s housing and regeneration agency, to accelerate the development of large-scale residential sites across England. The joint venture, named Hestia, is backed by £150 million of capital investment by Homes England and Vistry and is designed to deliver high-quality, mixed-tenure communities at pace and scale.
Hestia will focus on the acquisition and development of strategic sites, each ranging from 400 to 3,000 homes, and will incorporate vital new infrastructure to support thriving communities. In addition, the joint venture will seek to sell parcels of land on our larger sites to SME developers, reflecting both organisations’ commitment to supporting the wider housing sector and enabling greater market participation. This partnership marks a significant step forward in delivering sustainable housing growth and unlocking the potential of large-scale sites across the country.
Greg Fitzgerald, Chief Executive of Vistry Group, said:
“As one of the country’s largest providers of affordable homes, we are closely aligned with Homes England and share their ambitions for further affordable housing delivery. Hestia represents a bold and collaborative step forward in unlocking the potential of large-scale sites and accelerating the creation of thriving, mixed-tenure communities across England.”
