Vistry Group PLC (“Vistry” or the “Group”) is pleased to announce that it has been reconfirmed as a Strategic Partner and secured a significant direct grant award under the first allocation of funding made available as part of the government’s £39bn Social and Affordable Homes Programme (SAHP). The initial funding of £350m, the largest award possible in this phase, is significantly in excess of the first award received under the previous programme, and will enable the delivery of over 3,000 affordable homes, well ahead of what was possible under the first phase of the last programme.

The Group has an established pipeline and has identified immediate opportunities to deploy its own grant funding to deliver much needed affordable housing schemes within the current year. Alongside this, Vistry will deliver additional homes at pace by working in partnership with other Strategic Partners, Established Mayoral Strategic Authorities and Councils as they commit funding to their programmes as part of the initial £9.58bn of allocations. The Group already has longstanding relationships with 29 of the 32 other strategic partners announced this morning, and operates within all of the Mayoral Strategic Authorities referenced in the announcement.

“Vistry has received direct grant funding awards under successive affordable homes programmes for nearly twenty years, and this award reflects our established track record and commitment to delivering much needed affordable homes in collaboration with Homes England and our partner providers. We are delighted that Homes England has made this significant announcement that will create over 73,000 new homes and provide Vistry, its partners and the wider sector with a much-needed stimulus. Vistry already operate in all of the Established Mayoral Strategic Authorities and have established relationships with 29 of the 32 other strategic partners announced this morning. We look forward to continuing to work with Councils and Homes England to meet local ambitions to increase housing supply at pace.”

Note: Vistry’s total funding as a Strategic Partner under the 21-26 Affordable Homes Programme was £278m, enabling the delivery of over 3,500 additional affordable homes across the country. The initial funding award in 2021 was £83m.