Vistry Group has acquired a site in Worcester from Bloor Homes for an undisclosed price on which it intends to deliver 233 homes.
The site benefits from outline planning permission and forms part of the wider Elgar Park development, which is being built by Bloor.
Vistry has already secured reserved matters permission for the first 72 homes and has partnered with Sigma to deliver 70 of the homes for its build-to-rent brand Simple Life Homes.
The remainder of the development will comprise 33 homes for social rent, 14 homes for shared ownership and 116 homes for general market sale.
Supriya Ray, managing director of Vistry Cotswolds, said: “We’ve worked closely with Bloor to secure this site which will deliver a significant number of mixed-tenure homes. By collaborating again with our long-term partner Sigma, we can provide a range of high-quality homes for rent, whilst also using the group’s well-known open market housebuilding brand Bovis Homes, giving local people an excellent range of housing choices.”
Robert Mitchell, investments and acquisitions analyst at Sigma, added: “We’re delighted to be part of this new development with our trusted, long-term partners, Vistry Group. Our Simple Life Homes will form a mix of two-, three- and four-bedrooms – perfect for local families looking to rent a high quality home whilst benefitting from a professional approach to renting. This is an exciting development, as it is a new area for Simple Life, adding to the circa 7,700 existing portfolio of homes across the UK.”
