Vistry has purchased an 11-acre development site in Mansfield on which it intends to build 178 affordable homes.
The Penniment Lane site has been acquired from Persimmon and will be brought forward as a 100% affordable housing scheme.
Vistry expects to submit a planning application in the coming months with work anticipated to start on site in spring 2027, subject to approvals.
Dave Bradley, managing director of Vistry North Midlands, said: “This is an important step forward for Penniment Lane and for the wider Mansfield area. The scheme will provide 178 much needed affordable homes, helping more local people access high quality housing in a well-connected location. I would also like to thank everyone involved in bringing this agreement together. What would usually take months was progressed and exchanged in a matter of days, which is testament to the commitment, collaboration and determination of all parties involved.”
Lauren Jeffrey, residential development partner at Gateley Legal, which represented Vistry on the deal, added: “We are pleased to have supported Vistry with residential development and planning advice to facilitate the exchange of contracts at Penniment Lane. It was a true team effort to get this over the line within such a quick time frame and it’s great to see the scheme move forward and contribute to the delivery of much needed affordable housing.”
