A deal worth in excess of £25 million has been struck between affordable housing provider St Arthur Homes and the Vistry Group, for 95 Shared Ownership properties at Whiteley Meadows near Winchester.
The acquisition represents St Arthur Homes’ largest number of private units purchased on one site to date, and comes as part of its focused expansion programme, as it aims to deliver at least 2,000 new homes over five years.
The first phase comprising 45 Shared Ownership homes is due to be launched for sale in the coming weeks, and includes a range of two- and three-bedroom houses and two-bedroom apartments, providing affordable opportunities for buyers to get onto the property ladder for as little as a 5% deposit on the share they buy. Buyers are able to purchase an initial stake in the property with the opportunity to increase their share with a view to outright ownership in the future.
St Arthur Homes is renowned for delivering premium housing in the Shared Ownership sector, operating across London and the South of England with a range of partners to acquire affordable housing through S106 and grant-led schemes. The deal with Vistry Group is the latest in a series of partnership deals with leading housebuilders as St Arthur increases its portfolio.
The overall masterplan of Whiteley Meadows will provide more than 3,000 new homes, with a group of leading developers led by the Vistry Group working on the multi-phase project situated in the countryside between Southampton, Portsmouth and Winchester. The plans also include new schools, a care home, community centre, green spaces and shops, along with associated infrastructure.
Chief Executive Officer for St Arthur Homes comments: “We are delighted to have acquired the site at Whiteley Meadows, which is our largest Shared Ownership development to date. Working alongside Vistry, we are pleased to play our part in delivering this fantastic new community in an outstanding countryside location, while helping make homes more affordable for our buyers. The increasing awareness and demand for Shared Ownership homes puts us in a strong position to continue to grow our business.”