Housing association believe housing has acquired 57 homes at Vistry’s Bishops Park residential development in Bishop Auckland thanks to interim grant funding from Homes England.
The site received planning permission for 500 homes in 2012 and funding from Homes England enabled Vistry to buy 99 of the 500 homes in partnership with affordable housing provider Riverside in 2018.
Following the success of this initial phase, and with continued support from Homes England, Vistry acquired the outstanding 401 homes, this time in partnership with believe housing. The housing association purchased 100 homes outright and secured an option to acquire an additional 100.
After taking up part of that option last year with the purchase of 43 homes, the housing provider has now completed the acquisition of the final 57 homes on the site thanks to the government’s interim grant funding programme announced in the Autumn Statement.
Sean Egan, regional managing director, Vistry North East, said: “Bishops Park is a brilliant example of what long-term partnerships can achieve, coupled with critical funding from the government to unlock housing delivery. By working first with Riverside and then believe housing, and thanks to additional funding from Homes England, we’ve been able to deliver more than 200 affordable homes at Bishops Park, as well as introducing homes to rent or buy on the open market, providing a wide range of housing choice to local people.”
Kate Abson, director of assets and development at believe housing, added: “It’s fantastic to see Bishops Park progressing, and we are pleased to be working with Vistry to deliver 200 high quality, energy-efficient homes for social rent and affordable home ownership. By taking on this number of homes, we’re helping to meet housing demand and creating opportunities for people to live in healthy, sustainable homes within a mixed and vibrant community.”
