Vistry and Homes England enter jv for large sites

Vistry has signed a joint venture (jv) with Homes England to accelerate the development of large sites.

A new vehicle between the two organisations, called Hestia, is supported by a combined £150 million of capital investment from the housebuilder and government agency.

The vehicle will concentrate on the delivery of mixed-tenure communities, “at pace and scale, which will contribute towards the government’s commitment to build 1.5 million homes in this parliament”, Vistry said, with the new communities set to contain between 400 and 3,000 homes each.

Hestia’s investment strategy will identify sites, bringing forward key infrastructure and managing the construction of the communities.

The long-term investment jv has utilised funding from Homes England’s Home Building Fund which was extended in December 2024. Up to £700 million was made available to support the delivery of around 12,000 additional homes.

In June, the government announced the launch of Homes England’s £16 billion National Housing Bank, set to realise a further £59 billion of private sector investment in UK housing.

Housing minister Matthew Pennycook said of the jv: “Rapidly growing the pipeline of large mixed tenure sites across the country, making more use of modern methods of construction, …