Vistry Partnerships signs deals with Sage Housing
Regeneration specialist Vistry Partnerships has signed a deal with Sage Housing, the UK’s largest provider of newly built affordable housing, to own and manage 96 affordable homes within its sustainable redevelopment of a disused area of the Walton Hospital site in Chesterfield.
SME Modus Partnerships has also been brought in as part of Vistry Partnerships’ and project-partner Homes England’s drive to support smaller-scale developers.
Modus will develop 32 affordable rental homes and 18 shared ownership properties on the site. Sage will own and manage these 50 affordable homes, along with a further 46 affordable homes developed by Vistry Partnerships. The project, which will give a new lease of life to a brownfield site through the creation of 153 new houses, will also include homes developed by Vistry Partnerships for sale on the open market.
Sage entered into the agreement as it is aligned with two of its principal key objectives in providing affording affordable homes for the area and in an environmentally friendly way, incorporating Modern Methods of Construction (MMC). Each property is constructed from sustainably sourced timber frame panels (PEFC certified) manufactured in a factory in Leicester and assembled on site, reducing waste by 20%. Studies show that the timber panels, which are designed and engineered precisely for the homes, reduce embodied carbon and can save 12 tonnes of carbon over their lifetime compared to traditional construction.
Stephen Teagle, CEO Vistry Partnerships, said: “This deal adds to our existing portfolio of 1118 homes we are currently delivering in Partnership with Sage across the UK. Including this project, we will have £260m worth of work in progress, but most importantly we are working with valued partners to unlock quality housing and modern methods, creating jobs, communities and places people can be proud of.”
Mark Sater, Chief Executive of Sage Housing said: “Sage is proud to be expanding its work with Vistry Partnerships to deliver sustainably built homes in Chesterfield. We are committed to delivering high-quality affordable homes to those most in need and excited that the new homes at Walton Hospital will be built by Modus using sustainably sourced materials and Modern Methods of Construction.”
Simon Preston, Director for Modus Partnerships, added: “We are delighted to be working with Sage Housing to deliver these much-needed affordable homes in Chesterfield. The homes will be timber-framed construction and occupants will benefit from high quality, energy efficient attractive homes that they will be proud to live in. We’re excited to be working with all the partners on this scheme.”
Work is well underway on site after Vistry Partnerships secured planning permission from the local authority and completed a deal with Homes England earlier this year. The entire development is expected to complete in 2024.
Once complete, the site will feature two, three and four-bedroom family homes - of which a minimum of 60% will be affordable – meaning Vistry Partnerships is going beyond standard planning requirements to help local people get on the property ladder.