A land deal has been completed whereby Vistry Group have acquired a parcel of land on which it plans to deliver 1,499 new homes in Peterborough.
The site, which is to become a key part of a new strategic urban extension, is located off New Road in Great Haddon, Peterborough between junctions 16 and 17 of the A1(M).
Great Haddon has been earmarked as an area for huge re-development in recent years, with Vistry’s plans for the site to include 1,499 new homes. This site was sold by Savills on behalf of a private individual and was a highly competitive acquisition.
Of these, around 1,000 homes will be delivered by Vistry East Midlands, with approximately 500 being built by Vistry Partnerships, who will work alongside the local authority and a partnered housing association to create affordable homes for local people as part of the wider development plans. At least 259 of the homes will be provided as affordable housing.
Vistry Group, which comprises Linden Homes, Bovis Homes and Vistry Partnerships, will now submit the first reserved matters planning application for the development to Peterborough City Council, with a view to starting construction work in late 2021.
Verity MacMahon, land director of Vistry East Midlands, said: “We are incredibly pleased to have been successful in the exchange and completion of this highly sought-after land in Great Haddon, which represents an exciting opportunity for Vistry Group in a competitive market, and is a project we have been working on since 2019.
“As a major PLC housebuilder, this is exactly the sort of opportunity Vistry Group wants to acquire as a business, enabling us to deliver a strong number of housing completions for circa 10 years in Great Haddon.
“The site, which is just a short drive from Vistry East Midlands’ offices in Peterborough, has the benefit of outline planning consent, and we are now going to put forward our proposals to Peterborough City Council for a carefully considered scheme totalling 1,499 homes. This will include around 500 properties built by Vistry Partnerships, to deliver social housing for the area.
“Both the Linden Homes and Bovis Homes brands will be sold on the site, with a view to having both developers on-site with live sales outlets in early 2023.
“In addition to the new homes, Vistry will also provide land for a new primary school, as well as a large sports facility, community centre and two local centres as part of the wider plans for the site.
“We are looking forward to bringing this project to life and delivering a sustainable development of homes as part of the most talked-about strategic urban extension in Peterborough.”
Vistry East Midlands is already building new homes in Peterborough, at Bovis Homes’ Hampton Water development, off London Road.