Affordable housing provider St Arthur Homes has acquired its largest number of private units on one site to date, for Shared Ownership between Southampton and Portsmouth in a deal in excess of £25M with The Vistry Group. The purchase of 95 affordable homes at the Whiteley Meadows development in Winchester, comes as part of St Arthur Homes’ focused expansion programme, as it aims to deliver at least 2,000 new homes over five years.
The first phase of 45 Shared Ownership homes at Whiteley Meadows will be launched for sale soon, including 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 will initially be able to purchase a share of the property, with the opportunity to buy further shares up to outright ownership in the future.
“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,” said Chief Executive Officer for St Arthur Homes.
St Arthur Homes specialises in delivering premium shared ownership housing, without compromise on specification and is taking its place in the market as the aspirational RP. St Arthur works with a range of partners to acquire affordable housing across London and the South of England through S106 and grant-led schemes, with plans to expand into The Midlands. The deal with Vistry Group is the latest in a series of partnership deals with leading housebuilders as St Arthur increases its portfolio.
Whiteley Meadows is a multi-phase development where the overall masterplan will deliver more than 3,000 new homes from a group of leading developers led by The Vistry Group. The plans also include new schools, a care home, community centre, green spaces and shops, along with associated infrastructure. The new neighbourhood is well situated between Southampton, Portsmouth and Winchester, and surrounded by countryside, making it an attractive and sustainable place to live.
