Vistry Group has forged a strategic partnership with Homes England to tackle England’s housing shortage through a new joint venture backed by £150 million in capital investment.
The collaboration, named Hestia, aims to deliver high-quality, mixed-tenure communities across England. Both organisations are pooling resources to accelerate development on large-scale residential sites, with each project spanning between 400 and 3,000 homes.
Homes England is the UK government’s housing and regeneration agency responsible for ensuring the supply of affordable housing.
In a move that demonstrates broader sector commitment, Hestia plans to sell parcels of land from larger developments to small and medium-sized enterprise (SME) developers.
This strategy serves multiple purposes: it enables smaller developers to participate in large-scale projects whilst maintaining the joint venture’s focus on strategic site delivery. The UK is desperate for new homes, and the plans recognise that to achieve the UK’s 1.5m housing building target, the entire sector needs to be behind the drive to build more homes.
“As one of the country’s largest providers of affordable homes, we are closely aligned with Homes England and share their ambitions for further affordable housing delivery,” said Greg Fitzgerald, Chief Executive of Vistry Group.
“Hestia represents a bold and collaborative step forward in unlocking the potential of large-scale sites and accelerating the creation of thriving, mixed-tenure communities across England.”