Land sale deal opens way for 1,499 homes development in Peterborough
Homes developers have completed the purchase of a 166 acre site in Peterborough that is earmarked for a landmark housing venture.
Vistry Homes, which is made up of Linden Homes, Bovis Homes and Vistry Partnerships, has bought the land off New Road in Great Haddon for a 1,499 homes development.
It is hoped construction will start later this year with about 1,000 homes to be delivered by Vistry Homes East Midlands.
Approximately 500 homes will be built by Vistry Partnerships, which will work alongside the local authority and a partnered housing association to create affordable homes for local people as part of the wider development plans.
At least 259 of the homes will be provided as affordable housing.
The proposed development is part of a wider scheme owned by O&H Properties and Barratt Homes to deliver 5,350 dwellings at Great Haddon, along with four schools, health, leisure, retail and commercial space and sports and recreation facilities.
The land purchase by Vistry Homes was completed on behalf of the landowner by property agents Savills in Cambridge.
Peterborough City Council has already granted general approval for the development with the Vistry Group to soon submit its first reserved matters planning application.
Verity MacMahon, land director of Vistry Homes East Midlands, said: “We are incredibly pleased to have been successful in the exchange and completion of this highly sought-after land in Great Haddon, which represents an exciting opportunity for Vistry Group in a competitive market, and is a project we have been working on since 2019.
“As a major PLC housebuilder, this is exactly the sort of opportunity Vistry Group wants to acquire as a business, enabling us to deliver a strong number of housing completions for circa 10 years in Great Haddon.
“The site, which is just a short drive from Vistry Homes East Midlands’ offices in Peterborough, has the benefit of outline planning consent, and we are now going to put forward our proposals to Peterborough City Council for a carefully considered scheme totalling 1,499 homes.
“This will include around 500 properties built by Vistry Partnerships, to deliver social housing for the area.
“Both the Linden Homes and Bovis Homes brands will be sold on the site, with a view to having both developers on-site with live sales outlets in early 2023.
“In addition to the new homes, Vistry will also provide land for a new primary school, as well as a large sports facility, community centre and two local centres as part of the wider plans for the site.
“We are looking forward to bringing this project to life and delivering a sustainable development of homes as part of the most talked-about strategic urban extension in Peterborough.”
Abigail Jones, from the Savills development team in Cambridge, added: “We are pleased to have achieved a sale with Vistry Homes who we are confident will deliver a high quality scheme.
“The development will provide much needed new homes for Peterborough and will play a significant role in helping the wider region to meet its longer term housing needs.
“The residential strategy for the area is focused around creating a great place for people to live and provides a real opportunity to post a benchmark for others to follow.”