Vistry Group, the mixed-tenure affordable housing developer, has finalised a partnership with affordable housing provider Metropolitan Thames Valley (MTVH), for 122 properties across three East Midlands developments.
MTVH has agreed a forward purchase of 90 new properties in Nottinghamshire: 65 at Vistry’s Fairham development and 25 family homes at its Padstow site in Bestwood. MTVH is also taking 32 dwellings in Derbyshire at Vistry’s St Lawrence Fold scheme in Clay Cross.
All three sites offer a blend of tenures. The 122 homes include a mix of two-bedroom apartments and two-, three- and four-bedroom houses. The first homes will be built and handed over in July 2024 with handovers taking place until the end of November 2025.
Lee Parry, Vistry’s Managing Director for North East Midlands, said: “Deals like this with MTVH which involve properties across multiple developments are hugely important in helping to tackle the crippling shortage of affordable homes in the region.
“Our regional team is thrilled to be building high-quality affordable family homes for MTVH across the three developments, helping to transform these new sites into balanced communities that are welcoming places to live.”
Geeta Nanda OBE, Chief Executive at MTVH, said: “We’re delighted to once again be partnering with Vistry to deliver much needed new affordable homes for the East Midlands.
“This latest venture represents a significant investment, and it will help to meet the growing demand for housing and provide an affordable route into homeownership for more people.
“MTVH is one of the leading UK providers of affordable housing with over 55,000 homes nationally, and around one in five of these in the East Midlands. Our aim is to provide as many people as possible with the security of a safe, affordable, and well-maintained home.
“Working with Vistry, we believe these three schemes will help more people across the region have the chance of a decent, affordable home and to live well.”
