Large South West landlord and Vistry strike deal for 245 homes

There will be a “range” of rented and shared ownership properties, according to Exeter-based LiveWest. No other detail on the tenure was disclosed.

A detailed planning application will now be submitted, Vistry said, and it is aiming to start work before the end of the year. 

Gareth Jones, development director at LiveWest, said the association was “delighted to work with Vistry on a priority site in an area of high housing need”. 

Peter Sadler, managing director for the South West at Vistry, said: “By working together we have been able to increase the affordable housing contribution beyond the council’s requirements to 50%, helping to meet the demand for affordable homes in Cornwall.”

It is unclear at this stage if the homes will be built at any of Vistry’s three modular factories.

Last week, the firm announced that most of the 1,000 homes it was delivering for Homes England in two new deals would be built using timber frame at its Vistry Works East Midlands factory in Leicestershire.

Vistry and LiveWest are also delivering 195 homes at a site in Hay Common, Launceston, in which all homes will be “affordable”, according to Vistry. 

In February, LiveWest agreed to acquire 114 homes from Countryside Partnerships, a Vistry subsidiary, on the site of a major new town in Devon that is under construction. 

Vistry has not been immune to the current economic conditions, and in October announced it was planning 200 redundancies due to the closure of five of its 32 regional offices. It came as the firm shifts its focus to affordable housing through its partnerships business.