Joint venture to deliver 850 homes at major Coventry scheme
Vistry will deliver more than 850 homes in Coventry after securing another land deal and joint venture with housing provider Citizen.
The housebuilder has acquired the site from Hallam Land to develop 608 additional homes at Eastern Green as part of the wider Pickford Gate scheme.
Phases four and five of the development will see 304 homes sold on the open market through Vistry’s retail housing brands, 152 homes will be delivered for Citizen through the site’s Section 106 agreement, and 152 homes will be developed as ‘additional’ affordable homes due to the joint venture partnership.
Hallam Land, the land promotion and planning division of Henry Boot secured planning permission for the Pickford Gate scheme in 2021. The development is set to create a total of 2,400 homes, of which 25% is affordable housing, alongside 37 acres of employment land, a primary school, district and local centres, green open spaces, community facilities and playing fields.
The David Wilson Homes division of national housebuilder Barratt Developments is bringing forward 491 homes at Pickford Gate, whilst Royal London Asset Management Property acquired 52 acres to develop a 645,000 sq ft industrial and logistics site.
James Warrington, executive chair at Vistry Group said: “Continuing our joint venture with Citizen at Eastern Green is great example of Vistry’s long term partnerships strategy – it’s enabling us to provide more than 800 new homes across three phases, with 50% of them offered in affordable tenures and the remainder for sale with one of our retail housing brands, perfectly demonstrating the strengths of the Group.”
Nick Byrne, executive director of development at Citizen, said: “We’re pleased to be continuing our joint venture with Vistry and provide more affordable and market sale homes for people living in the West Midlands.
“At Citizen we have an ambitious development programme to build homes to meet the needs of our region and we also work with our partners, including Vistry, to make a positive difference to our customers and communities.
“We’re looking forward to seeing work at Eastern Green in Coventry continue building on our existing presence in the area.”
Tim Roberts, CEO at Henry Boot commented: “This sale to Vistry is a significant transaction for Hallam, executing the phased sale of the wider Pickford Gate site according to plan, which will create thousands of much needed new homes in the area. It also highlights the continued demand for prime sites from leading national housebuilders.
