SNG and Vistry form joint venture to build 595 new homes in Thornbury

SNG, which was formed through a merger last year, looks after 84,000 homes across London and the South of England.

The housing association has an ambition to deliver 25,000 new homes over the next decade, with at least half being for social or affordable rent.

Outline planning consent for the Thornbury scheme, secured last year, includes a primary school, retail and community facilities and extensive green spaces, including gardens, allotments, open areas and wildlife zones.

The partnership will contribute more than £6m towards the improvement of local infrastructure and transport, as well as provide the council with support to operate the school and nursery.

Susan Scholfield, regional managing director of Vistry Bristol, hailed a “transformative development opportunity” that could provide “a significant number of high-quality, mixed-tenure homes, including a high proportion of affordable homes”.

“By working in joint-venture partnership with SNG, we can share expertise and significantly enhance the local housing supply, offering local people a wide range of housing choices,” she said.

Tom Titherington, chief investment and development officer at SNG, said the deal was “a positive step towards delivering our ambitious plans for tens of thousands of good, affordable, new homes that are desperately needed”.

“To maximise our impact, we’re always looking to work with partners like Vistry that share our vision of building high-quality, sustainable neighbourhoods with the range of supporting facilities and infrastructure that will form a thriving community over generations at Pickedmoor,” he added.

SNG has secured a number of significant loan deals of late, including a £50m facility from Barclays to support its plans to build 25,000 new homes over the next 10 years.