Vistry has signed contracts with BtR property developer, Placefirst, for 49 PRS properties at its Milby Meadows development in Nuneaton. This includes four one-bed homes, 23 two-bed and 22 three-bed homes. This agreement has been made on behalf of the Develop Warwickshire joint venture, with the partnership model at the 1,700-home development now including Platform Homes, delivering 133 affordable properties, Sigma, providing 38 PRS homes, Leaf, providing 82 PRS units, and Placefirst delivering the final 49 PRS homes.
Together, these organisations will ensure a diverse mix of tenures, making homes accessible to a range of potential buyers and help to create a balanced and inclusive community.
Michael Moore, Vistry’s managing director for North West Midlands, said: “I am delighted to have such a fantastic range of partners on our largest scheme within the Develop Warwickshire joint venture.”
“Placefirst brings a wealth of experience and provides an excellent opportunity to develop the private rental sector offer on this site. Bringing a wide range of tenure offers to the area shows the commitment of the JV to delivering high-quality, affordable homes that enhance communities and meet the diverse housing needs in Warwickshire.”
Henry Marshall, investment director at Placefirst, said: “Our latest project with Vistry builds on our other four neighbourhoods, which will deliver a total of 363 homes across Oxford, Northampton, Mansfield, Swindon and now Warwickshire. The collaboration enables us to deliver sustainable, quality homes and communities built for the long-term in places where they’re needed. We look forward to seeing our partnership with Vistry continue to thrive, and helping to create an inclusive and well-connected neighbourhood that supports community growth in Milby Meadows.”
Develop Warwickshire, the joint venture between Vistry, Warwickshire Property & Development Group (WPDG) and Warwickshire County Council, is building 2,000 homes in Warwickshire to help address the region’s housing shortage. The JV has committed £2.5billion to create much-needed new homes and job opportunities for local residents. The partnership is also dedicated to sustainable development, aligning with the local authority’s criteria and aims to enhance the quality of life for Warwickshire residents.
James Devereux, finance director of WDPG, said: “This is another major step forward to bring the vision for Milby Meadows and Weddington to life. The agreement between Vistry and Placefirst is a clear demonstration of the confidence in this landmark development and completes a strong quartet of partners within the Develop Warwickshire scheme.”
“Together, we’re giving future residents a real sense of the community taking shape while combining our expertise to deliver sustainable, thriving communities across the county.”
Councillor Stephen Shaw, deputy leader and portfolio holder for finance and property at Warwickshire County Council, said: “This agreement marks another significant milestone in delivering the high-quality homes and infrastructure that families across Warwickshire need. The inclusion of Placefirst strengthens an already exceptional partnership and reflects the confidence in what is being achieved at Milby Meadows.
“Through Develop Warwickshire, we are creating sustainable, well-connected communities that offer real opportunities for local people.”
Each home will be constructed using modern methods of construction, incorporating air source heat pumps and electric vehicle charging points. The development will boast energy-efficient design elements, incorporate sustainable urban drainage systems and will include beautifully-landscaped green open space.
