Housebuilder working on detailed planning submission after buying site in Kidlington
Vistry, Paradigm Housing and Leaf Living have partnered to bring forward a 370-home scheme near Oxford.
The housebuilder had already acquired a site in Kidlington, which is located near the Oxford Parkway station and the Oxford Park and Ride.
Outline planning permission had already been granted for a development on the site and Vistry is now working with Cherwell District Council in advance of a reserved matters submission.
The firm has pre-sold 139 homes to the housing association Paradigm and 56 to Leaf Living, which will offer the homes for private rent.
Vistry had previously agreed a huge forward sale deal with Leaf Living around a year ago.
The housebuilder will sell 46 of the remaining Kidlington homes at a discounted market rate and 129 at open market value through Bovis Homes.
It plans to provide new allotments, public open space, play areas and a sports pitch. Approximately £8m will be committed to improving local education, transport and sports provision facilities.
Supriya Ray, regional managing director of Vistry Cotswolds, said: “We’re delighted to be working in partnership with Paradigm and Leaf Living here in Kidlington.
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“The site will deliver a significant number of high quality, mixed-tenure homes, giving local people a real chance to own or rent a new home, whilst we will also be providing a range of other community services and facilities.”
The deal is a continuation of Vistry’s partnerships-focused model, which has seen the builder post impressive revenue and profit growth.
However, the firm has seen setbacks in recent months, with successive reductions in its profit forecasts on the back of underestimated build costs in its southern division.
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