Vistry snaps up £140m Leicestershire site for resi scheme

Vistry Group has acquired a £140m GDV site in Hinckley, Leicestershire, with outline planning permission to deliver 475 homes. The site, to the east of Stoke Road and north of Normandy Way, will provide 475 homes, of which 30% will be affordable, 25% will be developed for the private rented sector, and 45% will be for sale on the open market through its retail brands Bovis Homes, Linden Homes and Countryside Homes. The site was acquired by a private client and was promoted through Richborough. Richborough was granted planning permission for the site in January this year. 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.” The houses will be constructed using modern methods of construction, with timber frame panels produced at the local Vistry Works factory in Bardon, Leicestershire.