BVS Bovis Homes Group Plc

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Vistry Group PLC

23 January 2024

23 January 2024

Vistry Group PLC

Countryside Partnerships selected as Preferred Developer to deliver GBP276m scheme for 739 new homes in Barnet

Countryside Partnerships (part of the Vistry Group, the UK's leading mixed-tenure developer) has been selected by the Greater London Authority (GLA) and the Mayor's Office for Policing and Crime (MOPAC) as the preferred developer to deliver 739 new mixed-tenure homes in Colindale, Barnet, as part of a GBP276m GDV scheme.

The 427 affordable homes - consisting of affordable rent, social rent and shared ownership properties - will represent 60% of the new development. The development will also include 144 build to rent homes and 168 homes for private sale, subject to planning approval. A proportion of the affordable shared ownership homes will be offered to the City of Westminster as part of a wider planning portfolio agreement which commits to achieving 50% overall affordable housing across three sites owned by MOPAC. Affordable housing will be delivered for, and operated by, one of Vistry's registered provider partners in accordance with the Mayor of London's requirements.

The deal provides further evidence of the strong progress Vistry is making with its strategy of fully focusing on its high-growth, asset-light Partnerships model, seeing sustained demand for mixed-tenure housing. Operating across 26 regional businesses with a strong and highly experienced management team, Vistry Group is committed to increasing the delivery of much-needed homes across the county in collaboration with its valued partners.

Selected following a competitive bid process led by the Mayor of London, Countryside Partnerships will transform the last two sites on what was formerly the Hendon Metropolitan Police training centre and driving school in Colindale into five buildings housing 739 new homes and multiple recreational spaces. The development will also deliver community and retail facilities including a new nursery and social enterprise, as well as a social value programme designed to reflect the community's expressed needs and aspirations, maximising local job and apprenticeship opportunities throughout the scheme's duration.

Work is anticipated to start on the site in summer 2025 and is scheduled for completion in 2030. Colindale is the 34(th) major development currently being progressed by Vistry in London.

Greg Fitzgerald, Chief Executive, Vistry Group, said:

"We are thrilled to have been appointed by the GLA and MOPAC for this transformative landmark scheme to deliver high-quality new housing for Londoners. This latest agreement reflects the strength and resilience of our partnerships model, and we look forward to using our track-record of successful regeneration and place-making to create much-needed new homes and sustainable communities for the residents of Barnet."

Tom Copley, The Deputy Mayor for Housing and Residential Development, Greater London Authority, said:

"Building more of the genuinely affordable homes that Londoners need is a top priority for the Mayor, who last year successfully met the ambitious target of starting 116,000 affordable homes across the capital. I am proud to partner with Countryside Partnerships as we provide more of the homes Londoners desperately need and continue building a fairer and more prosperous London for everyone."

ENDS

For further information, please contact:

 
 Vistry Group PLC 
 Susie Bell, Group Investor Relations 
  Director                               01732 494716 
 FTI Consulting 
 Richard Mountain / Susanne Yule         020 3727 1340 
 

Notes to Editors

Vistry Group

Vistry Group is the UK's leading provider of affordable mixed tenure homes. Our purpose as a responsible developer is to work in partnership to deliver sustainable homes, communities and social value, leaving a lasting legacy of places people love. We are a young and dynamic business with a Partnerships-led approach, delivered under our Countryside Partnerships brand, and an exciting timber-frame manufacturing operation called Vistry Works, running three factories and supporting our drive towards net zero.

Delivering thousands of homes every year for the affordable and private marketplaces, Vistry Group also has an unmatched portfolio of retail brands, each with a rich history and strong reputation: Linden Homes, Bovis Homes and Countryside Homes.

We are a multi award-winning housebuilder and the Group has again been awarded the 5 Star Rating by the Home Builders Federation following the latest industry's Customer Satisfaction Survey. For more information go to www.vistrygroup.co.uk .

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January 23, 2024 02:00 ET (07:00 GMT)

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