The scheme for LiveWest is part of a 5,500-home transformation of Sherford
Vistry has exchanged contracts with a housing association to deliver 259 new homes on the outskirts of Plymouth.
The £418m group’s Countryside Partnerships arm has signed a deal worth £76m with LiveWest.
The development in Sherford, in South Devon, will comprise 114 affordable and 145 private homes.
It is part of a wider plan to develop 5,500 new homes around Sherford and the Plymouth and South Hams countryside.
Sherford’s transformation will include a town centre, four schools, a leisure centre and sports facilities as well as extensive transport links and a 500-acre country park.
Stephen Teagle, chief executive of Countryside Partnerships, said: “This scheme is a great reflection of the ability of our partnerships model to provide the right mix of homes that communities require and we are thrilled to be doing so in collaboration with our long-term partner LiveWest for the residents of both the South Hams and Plymouth.”
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Gareth Jones, development director for LiveWest, said: “We are delighted to be working with our valued partner Countryside Partnerships to develop more affordable homes in Sherford. We have been working to deliver affordable housing at Sherford since its inception.”
Vistry Group is in the process of merging its traditional housebuilding arm into its partnerships model. It follows Countryside Partnerships’ merger with Vistry Partnerships in 2022.
In January Teagle said he expected Vistry to be delivering 20,000 homes per year by late 2025 or 2026.
A trading update in early January showed Vistry’s development fell 5.4% year on year to 16,124 completions.
The firm is on course to post an adjusted pre-tax profit of around £418.4m for the year to 31 December.
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