Vistry Group has purchased land for a further 128 new homes next to its current location near Waterlooville – increasing the value of the development to £76 million.
Vistry Group has purchased land for phase two in Lovedean
The national housebuilding company, which includes Linden Homes and Bovis Homes, bought the Lovedean parcel from residential property firm Grainger plc, and will build 81 private and 47 affordable homes, as part of its second phase on the development.
The move means a total of 288 properties will be constructed across Linden Homes’ Catherington Park development, which will include two, three and four-bedroom homes.
Yuved Bheenick, land and planning director at Vistry Southern said: “We are delighted to have secured the acquisition of phase two at Lovedean. The development is well located with good transport links and we look forward to contributing more private and affordable homes to this area building on the success of phase one.
"This continues to cement our growing relationship with Grainger and we hope to undertake further acquisitions in the future.”
Phase two of the development, at Woodcroft Farm, will include two, three and four-bedroom houses for private sale, plus affordable two-bedroom apartments and two and three-bedroom houses. The first completions are due next year.
Phase one, which currently has more than 40 occupants, is a joint venture between Vistry and construction services company, The Wates Group.
Linden Homes’ Catherington Park, which has 120 private and 40 affordable homes, is five minutes from Waterlooville and close to the A3, with easy access to Portsmouth, Southampton, Bournemouth, and London.