VIVID completes 10-year deal with Legal & General Homes to provide over 500 new homes
Press release
12 November 2018
A new partnership between Legal & General Homes and VIVID will bring 525 new affordable homes to the new Finchwood Park development at Hogwood Farm in Finchampstead, Wokingham.
The partnership draws on the strengths of the two organisations and gives long term certainty to the delivery of much-needed new homes in Wokingham. Almost 60% (304) of the new affordable properties will be available for social rent; affordable rent and shared ownership properties will also be provided.
Finchwood Park is Legal & General Homes’ newest development of homes, parkland, retail space, community facilities and over 140 acres of open space. 1,500 homes of different types, tenures and sizes will be joined by a new country park, enhancing and expanding the existing landscape with new ponds and wetlands to enrich and protect the area’s environment. A two-form primary school will also be built, designed to accommodate a potential expansion to three-form entry as the future community grows. Job opportunities will be created not just in the provision of the scheme but through the additional 12,000 sq m being delivered at the Hogwood Industrial Estate.
Legal & General Homes will build all the private units on site with the affordable units being constructed in partnership with VIVID. The development uses the expertise and financial strength of both organisations to deliver a long-term supply of new homes.
Mike Shepherd, Director of New Business & Development at VIVID said: “Our partnership is based on a shared ambition to develop and grow the amount of high-quality affordable homes we can deliver, supporting and improving the wellbeing of our customers and communities. It’s about building the right type and tenure of homes to suit peoples’ needs and circumstances. We’re excited to be in partnership with Legal & General Homes as they enter and bring a new and exciting offer to the housing sector."
John Allan, Managing Director of Legal & General Homes, said: “VIVID and Legal & General Homes are a natural fit – both organisations are out to create vibrant communities that people want to live in. The end goal in designing Finchwood Park was always to make a place that residents and locals can be proud of – and VIVID will be integral in helping us achieve this.”
ENDS
Notes to editors
VIVID
For more information please contact: Eva Lambert-Smith, Head of Communications at VIVID on 07770 832247 or eva.lambert-smith@vividhomes.co.uk
We’re Hampshire’s largest provider of affordable homes with around 70,000 customers and 30,000 homes in the South East, mainly across Hampshire and Surrey. We have around 850 staff including our repairs team.
Legal & General Homes
For further editorial information please contact: Francesca McCann (née Sidoli) / Harriet Crosby / Alyona Levitin, Camargue, on +44 (0) 20 7636 7366 or LandGHomes@camargue.uk
Legal & General Homes is driven by its mission to create beautiful, vibrant, sustainable communities where people can thrive. It is passionately committed to providing first-class customer service and its Customer Service Charter guarantees transparency and regular communication to ensure a buying process that’s as stress-free as possible.
Legal & General Homes builds high-quality homes for people across a range of life stages. It is the first housebuilder to embed the principle of social value into its business as part of its commitment to making a positive contribution to the local communities it joins.
Legal & General Homes is the housebuilding arm of Legal & General Capital (LGC), the early-stage investment arm of Legal & General Group. Investing from Legal & General’s principal balance sheet, LGC’s purpose is to generate long-term shareholder value by injecting new capital into key sectors where there has been a shortage of investment and innovation, including housing.
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