Vistry Group, the provider of affordable mixed-tenure homes, has completed contracts for a major site in Hinckley, Leicestershire, with outline planning permission to deliver 475 new homes for the area.
The site, to the east of Stoke Road and north of Normandy Way, in the north of the town, has a development value of £140m. Of the new homes being delivered, approximately 30% will be affordable, 20% will be developed for the private rented sector, and 50% will be for sale on the open market through a combination of its retail brands Bovis Homes, Linden Homes and Countryside Homes.
All the houses will be constructed using modern methods of construction, with timber frame panels produced at the local Vistry Works factory in Bardon, Leicestershire. This will improve the sustainability and speed of the construction process, as well as reducing disruption for the local community. Each home built using these panels emits 14,460kg CO2e less than a traditional brick-and-block house.
Andy Reynolds, Managing Director of Vistry South East Midlands, said: “Completing the purchase of this high-quality site is hugely exciting as it is destined to become Vistry’s flagship development in Leicestershire, providing 475 mixed-tenure homes for the area.
“With a significant shortage of supply in the area, the acquisition of this site is a major milestone in bringing forward a new mixed-tenure development that will provide modern, well-connected homes catering to people with a wide range of requirements and at various stages of life.”
