UK signs deal to build thousands more homes
Homes England, the government’s housing and regeneration agency, and Countryside Properties, part of Vistry Group, have signed a long-term investment joint venture to leverage the investments made by them to accelerate the development of large sites across England.
The new vehicle, named Hestia, is backed by a combined £150 million of capital investment by Homes England and Vistry.
Hestia will focus on the delivery of high-quality, mixed-tenure communities at pace and scale, which will contribute towards the government’s commitment to build 1.5 million homes in this Parliament.
Hestia’s investment strategy will focus on identifying sites to bring forward vital new infrastructure and manage the construction of new communities of between 400 and 3,000 homes each.
This investment follows the December 2024 announcement of the £700 million extension to the Home Building Fund and it comes ahead of the launch of the £16 billion National Housing Bank, which is envisaged will unlock a further £59 billion of private sector investment in UK housing.
“As the government’s housing and regeneration agency, one of our key responsibilities is to unlock strategic housing sites by working with both the public and private sector to bring them forward at pace and scale, helping to meet the government’s housing targets,” said Pat Ritchie CBE (Chair of Homes England).
“This joint venture with Vistry Group will do just that, by targeting large sites capable of delivering up to 3,000 new homes in well-designed communities, while continuing to support SME housebuilders in achieving their own growth ambitions,” said Ritchie.
