Development in Sutton Coldfield will be 35% affordable
Vistry has acquired 35-acres of land for 530 homes that will be part of the 5,500 created as part of a new community in Sutton Coldfield, Birmingham.
Of the 530 homes, 35% will be affordable. The acquisition is Vistry’s second in the development, and will mean Vistry will build about 1,000 (19%) of the proposed 5,500 homes on the Langley Sustainable Urban Extension development.
A planning application for the homes was submitted in December last year and so long as permission is granted, work is expected to start next year.
Keith Carnegie, chief executive officer of Vistry Housebuilding, said: “We are delighted to have added further to our land bank at the proposed Langley Sustainable Urban Extension. The range of local amenities on offer, its commitment to sustainable placemaking and the excellent transport links, make this a truly desirable place to live.
“Given the strength of demand for our new homes, this latest land acquisition brings our total on this development to over 1,000 homes and will allow us to deliver much-needed housing, all the while boosting investment and jobs in the region.”
Vistry Group, which also includes Vistry Partnerships, was formed at the start of 2020 from a merger of Bovis with the house building operations of Galliford Try. In March this year the housebuilder reported trebling its pre-tax profits in the year to 31 December 2021.
Yesterday the £2.7bn turnover business said it was on course to report profit for the year at the upper end of expectations.