7th Apr 2020 09:36
(Alliance News) - Vistry Group PLC on Tuesday said it has entered into contracts with Homes England for a portfolio of six developments worth around GBP105 million total.
The Kent, England-based housebuilder said the developments will provide over 570 new homes across Portsmouth, Dudley, Chesterfield, Birmingham, Bridgwater and Shafton in Yorkshire, with over 400 of them being affordable homes delivered through contracts with registered provider partners.
FTSE 250-listed Vistry also said it has been awarded affordable housing contracts worth a total of GBP108 million to build 810 new affordable homes for registered providers in the north and south of England. The new contracts will be delivered by Vistry Partnerships Yorkshire and Drew Smith.
The company said it is working to speed up the delivery of the homes and remobilise sites where necessary work can be done in line with government guidance amid the Covid-19 outbreak.
"In what is a very challenging time for the housebuilding and construction industry, I am delighted that we have secured significant sites and contracts with long-standing partners. Despite the current Covid-19 restrictions, the demand for affordable, quality homes remains high and we are very well-placed to get these under way at pace," said Vistry Chief Executive Greg Fitzgerald.
The stock was trading 14% higher at 680.50 pence each on Tuesday morning in London.
By Ife Taiwo; [email protected]
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