Sovereign Network Group and Vistry Group have formed a joint venture partnership to deliver 595 homes in Thornbury, South Gloucestershire.
The development will support SNG’s ambition to deliver 25,000 homes over the next 10 years, with at least half being for social or affordable rent.
Outline planning consent for the site was secured in February 2023, and it will provide up to 50% affordable homes in a mix of tenures including social rent, affordable rent and shared ownership.
The planning permission also includes the provision of a primary school, retail and community space, 474,000 sq ft of public gardens and recreational open space, 32,000 sq ft of allotments and 1.3m sq ft of natural and semi-natural open space for wildlife and biodiversity conservation.
The partnership will contribute more than £6.5m towards the improvement of local infrastructure and transport, as well as providing the council with support to operate the school and nursery that will be built on site.
Vistry will sell the open market homes via one of its three retail brands, Linden Homes, Countryside Homes and Bovis Homes.
Susan Scholfield, regional managing director at Vistry Bristol, said: “This is a transformative development opportunity in Thornbury that can provide a significant number of high-quality, mixed-tenure homes, including a high proportion of affordable homes. By working in joint venture partnership with SNG, we can share expertise and significantly enhance the local housing supply, offering local people a wide range of housing choices.”
Tom Titherington, chief investment and development officer at SNG, added: “This site is a positive step towards delivering our ambitious plans for tens of thousands of good, affordable new homes that are desperately needed. I am delighted that our new joint venture with Vistry will form a vital part of the delivery of this vision in South Gloucestershire.”
Image from Vistry Group
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