Vistry's Countryside chosen for big Bristol development

(Sharecast News) - Vistry Group announced on Wednesday that its Countryside Partnerships division had been chosen as the preferred partner for a joint venture with Goram Homes and Bristol City Council's housing company. The FTSE 250 firm said the collaboration was aiming to develop 1,400 new homes at Hengrove Park in Bristol, with a commitment to ensuring that at least 50% of the homes would be 'affordable'.

It said construction work on the project was scheduled to begin in 2024, pending the approval of reserved matters planning permission.

The development plans for Hengrove Park would involve the creation of new homes, as well as the "transformation" of a portion of the existing parkland into a 22-hectare public park.

Vestry said the park would include amenities such as play areas, a sports pavilion, and a new community space.

In addition to the housing and parkland, Goram Homes, Countryside Partnerships and South Bristol Skills College would collaborate to provide on-site training to individuals interested in pursuing careers in construction.

"Hengrove Park is a once-in-a-generation development opportunity for Bristol," said Vistry Group chief executive officer Greg Fitzgerald.

"It is a fantastic example of the strengths and capabilities of our business - by working in partnership with Goram Homes, we can now provide mixed-tenure homes at scale and transform this brownfield site into a thriving new neighbourhood."

At 1125 BST, shares in Vistry Group were down 4.44% at 754.9p.

Reporting by Josh White for Sharecast.com.