Vistry secures £350m affordable housing grant from government

Vistry Group PLC, a leading homebuilder, has secured a substantial £350 million grant from the government's Social and Affordable Homes Programme. This significant funding represents the largest allocation in the current phase of the £39 billion initiative and will be utilized to deliver over 3,000 affordable homes. The grant surpasses Vistry's previous award of £83 million in 2021, highlighting the company's growing commitment to affordable housing development.

Vistry, confirmed as a Strategic Partner under the programme, has a proven track record of delivering affordable homes. In the 2021-2026 Affordable Homes Programme, the company received a total of £278 million, which enabled the construction of over 3,500 affordable homes. The £350 million grant will be deployed for affordable housing schemes in the current year, further solidifying Vistry's dedication to this cause.

The company is collaborating with other Strategic Partners, Established Mayoral Strategic Authorities, and Councils that have committed funding from the initial £9.58 billion allocation. Currently, Vistry has established relationships with 29 of the 32 other Strategic Partners announced on Monday and operates within all the Mayoral Strategic Authorities referenced in the government's announcement.

Chief Executive Adam Daniels emphasized Vistry's strong commitment to delivering affordable homes, stating that the company has received direct grant funding awards under successive affordable homes programmes for nearly twenty years. This new award reflects Vistry's established history and consistent dedication to this mission. The government's ultimate goal is to create over 73,000 new homes through this programme.