Vistry Group, the UK’s leading provider of affordable mixed-tenure homes, has acquired a major site in Hinckley, Leicestershire, with outline planning permission to deliver 475 new homes for the area.
The site, to the east of Stoke Road and north of Normandy Way, in the north of the town, has a development value of £140m. Of the new homes being delivered, approximately 30% will be affordable, 25% will be developed for the private rented sector, and 45% will be for sale on the open market through a combination of its retail brands Bovis Homes, Linden Homes and Countryside Homes.
All the houses will be constructed using modern methods of construction, with timber frame panels produced at the local Vistry Works factory in Bardon, Leicestershire. This will improve the sustainability and speed of the construction process, as well as reducing disruption for the local community. Each home built using these panels emits 14,460kg CO2e less than a traditional brick-and-block house.
Andy Reynolds, Managing Director of Vistry South East Midlands, said: “This latest deal adds another high-quality site to our pipeline of projects in Leicestershire. With a significant shortage of supply in the area, the acquisition of this site is a major milestone in bringing forward a new mixed-tenure development that will provide modern, well-connected homes catering to people with a wide range of requirements and at various stages of life.”
Richborough, one of the UK’s largest, best-in-class land promoters, was granted planning permission for the site in January 2024 and was instrumental in brokering the deal with Vistry.
Jordan Gresham, Group Disposals Director at Richborough, said, “Congratulations to Vistry on securing this site. We’re excited to see it come to life and deliver the much-needed new homes.
“I want to extend a huge thanks to our in-house team, and our consultants. Securing permission for 475 dwellings via planning appeal demonstrates our tenacity combined with a well-considered planning strategy.
“A special mention must also go to Steve Louth, our honorary director who passed away in 2022. This site was Steve’s vision, and it has been an honour to be involved in helping deliver this project as part of Steve’s Richborough legacy’’.
