£157m scheme will deliver homes for a range of tenures
Sovereign Network Group (SNG) has selected Vistry to build a 575-home scheme in west London worth £157m.
The deal, which will see Vistry pre-sell the homes to housing association SNG, is the latest partnerships deal agreed by the housebuilder as it attempts to ramp up delivery to 20,000 homes a year.
The Merrick Place scheme in Ealing will deliver mixed-tenure homes, including homes for affordable rent, shared ownership and market rent, along with commercial floorspace across four separate buildings.
SNG and Vistry-owned Countryside Partnerships are also joint venture partners on a scheme to deliver 650 homes on the former Northwick Park Hospital site in nearby Brent, north-west London.
Greg Fitzgerald, chief executive of Vistry Group, said: “We are delighted to be appointed on this fantastic new development in Ealing working with one of our established partners. Not only are we bringing forward 575 much-needed new mixed-tenure homes for the local community, but the scheme is also facilitating new job and apprenticeship opportunities for local residents”
David Gooch, executive director of development for London and Herts at SNG, said: “The Merrick Place project in Ealing is a flagship scheme within SNG’s London New Homes Programme.”
Vistry last week revealed faced a shareholder revolt following chief executive Fitzgerald’s appointment as executive chair. It also last week announced that it is forecasting 18,000 homes this year, 2,000 more than in 2023.
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