The partnership consists of five joint ventures across the south of England and represents a £167 million investment from the two organisations. More than a quarter of the homes will be for affordable tenures – 250 for affordable rent and 96 for shared ownership, with the rest for private sale.
Vistry Group was formed by Bovis Homes’ acquisition of Galliford Try’s housebuilding arm Linden Homes and its partnerships division.
Stephen Teagle, chief executive at Vistry Partnerships, said:
"Our joint venture partnership with Aster Group is making a real difference – enabling us to deliver more homes and more choice for customers. It is also generating important additional capacity to support more affordable homes."
Amanda Williams, group development director at Aster Group, said:
“We’ve set ourselves ambitious delivery targets and this partnership will play a vital role in meeting these goals.
“Joint ventures are an incredibly effective method of delivering homes and we actively look for potential partners – be they builders, other housing associations or local councils. The ability to pool resources and share risk makes them an ideal vehicle for getting large developments off the ground. I firmly believe that collaborative approaches to housebuilding like this are crucial if the sector is to deliver the homes the UK needs.”
