Vistry Group and LiveWest have acquired a residential development site in Wadebridge capable of delivering up to 245 new homes.
The 50/50 joint venture partners will bring forward 50% affordable homes as part of the development – 30% allocated by a Section 106 agreement and an additional 20% affordable homes supported by a grant from Homes England.
The site benefits from outline planning consent secured in 2022 and a detailed planning application to finalise the design of the homes will now be submitted.
Peter Sadler, managing director of Vistry Cornwall South West, said: “We’re pleased to work in partnership with LiveWest to acquire this site, which will provide a significant number of high-quality, mixed tenure homes. 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. We’re looking forward to submitting detailed plans and hopefully starting work before the end of the year.”
Gareth Jones, development director at LiveWest, added: “LiveWest is delighted to work with Vistry on a priority site in an area of high housing need. We are particularly pleased to deliver a range of rented and shared ownership properties and LiveWest looks forward to offering the first affordable completed homes.
“This is the second large site that the two companies have contracted on in Cornwall in 2024 – the first being at Hay Common, Launceston, where all homes will be affordable. Together, the two sites show the commitment of both companies to ensure consistently high levels of housing delivery in the county. The two sites will provide 440 homes of which 317 will be affordable homes.”
