Vistry Group has secured five parcels of land at Finchwood Park in Finchampstead, near Wokingham, that will deliver 600 new mixed-tenure homes.
Detailed planning permission is already in place for the first 256 homes (including 89 affordable homes), which Vistry will deliver as a mix of one and two-bedroom apartments and two, three and four-bedroom houses.
The parcels are located within a wider development of 1,500 homes being brought forward by Cala Homes.
Trevor Wicks, managing director for Vistry Thames Valley, said: “As Britain’s biggest housebuilder and one of its largest providers of affordable homes, securing these land parcels plays perfectly to the strengths of our Group, delivering a significant number of mixed tenure homes – including homes to rent – as well as open market homes sold via our retail housebuilding brands.”
John Richards, land and planning director at Cala Homes Thames, said: “It’s excellent news that we have exchanged contracts on these parcels with Vistry. This will allow housing delivery to significantly accelerate on the site alongside the delivery of important community facilities including public open space, allotments, sports pitches, a pavilion and a neighbourhood centre to complement our green open space and new Nine Mile Ride extension, which have already been completed. We look forward to building alongside Vistry as Cala moves onto Parcels 4, 5 and 16, which we hope will all have planning permission by early 2025.”
Tim Traynor, a partner in the Development Land team at Knight Frank, said: “This successful transaction represents a major milestone for the current residential development market. The scale and scope of this project highlight the ongoing demand for quality housing and its unconditional nature demonstrates that large housebuilders are willing to take a degree of risk to secure quality opportunities.”
“Knight Frank is pleased to have played a role in facilitating this important deal on behalf of our client Cala Homes.”
Vistry, which is on track to deliver 18,000 homes this year, expects to start construction work at Finchwood Park in January 2025.
