Parent company Vistry has bought land for a further 128 new homes next to Linden Homes' current Catherington Park development – increasing the value of the development to £76m.
Vistry bought the Lovedean parcel from residential property firm Grainger. It plans to build 81 private and 47 affordable homes as part of its second phase on the development. This means a total of 288 properties will be constructed across the development.
Yuved Bheenick, land and planning director at Vistry Southern, said: “We are delighted to have secured the acquisition of phase two at Lovedean. The development is well located with good transport links and we look forward to contributing more private and affordable homes to this area building on the success of phase one. This continues to cement our growing relationship with Grainger and we hope to undertake further acquisitions in the future.”
Phase two of the development, at Woodcroft Farm, will include two, three and four-bedroom houses for private sale, plus affordable two-bedroom apartments and two and three-bedroom houses. The first completions are due next year.
Phase one, which currently has more than 40 occupants, is a joint venture between Vistry and Wates Group.
Thank you for reading this story on The Construction Index website. Our editorial independence means that we set our own agenda and where we feel it necessary to voice opinions, they are ours alone, uninfluenced by advertisers, sponsors or corporate proprietors.
Inevitably, there is a financial cost to this service and we now need your support to keep delivering quality trusted journalism. Please consider supporting us, by purchasing our magazine, which is currently just £1 per issue. Order online now. Thanks for your support.