Sovereign Network Group (SNG) and Vistry Group have entered into a joint venture (JV) to develop 595 new homes in Thornbury, South Gloucestershire, England.
The project, which received outline planning consent in February 2023, will feature up to 50% affordable housing, including options for social rent, affordable rent, and shared ownership.
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Vistry Group will market the private homes through its portfolio of brands – Linden Homes, Countryside Homes, and Bovis Homes.
Vistry Bristol regional managing director Susan Scholfield 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.”
This development aligns with SNG’s goal to deliver 25,000 new homes over the next decade, with at least half designated for social or affordable rent.
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By GlobalDataThe project will also adhere to SNG’s Homes and Place Standard.
In addition, the project will include a primary school, retail and community facilities, as well as 44,000m² of public gardens and recreational space.
It will further comprise 3,000m² of allotments and 120,000m² of natural and seminatural areas for wildlife and biodiversity.
The JV partnership will invest more than £6.5m ($8.34m) in enhancing local infrastructure and transportation and will also support the local council with the operation of the on-site school and nursery.
SNG chief investment and development officer Tom Titherington said: “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’m delighted that our new joint venture with Vistry will form a vital part of the delivery of this vision in South Gloucestershire.”
This announcement follows the recent approval by Milton Keynes Council for Vistry Group, Homes England, and Paradigm Housing Group to develop mixed-tenure homes at Tattenhoe Park.
