Posted on Apr 08, 2019
Housebuilder Bovis Homes has joined forces with The Riverside Group, to deliver more than 1,800 new homes at Stanton Cross in Wellingborough.
The 50:50 Joint Venture (JV) will see Bovis Homes’ Northern Home Counties region deliver the homes on behalf of the JV with immediate effect, with delivery of the wider scheme to continue over the next 10 to 15 years.
The properties delivered by the JV will be a mix of homes available on the open market and some that will be designated as affordable housing.
Discussing the partnership, Keith Carnegie, chief executive of Bovis Homes’ newly-formed Partnership Housing division, said: “We are very pleased to confirm this new partnership with Riverside, one of the UK’s leading not-for-profit housing groups, and look forward to welcoming them to the Stanton Cross community.
“Together we can use our combined expertise and resources to help meet the significant local housing need, while adding to this already thriving new community.”
Carol Matthews, group chief executive at Riverside, said: “I am absolutely delighted that we have completed our partnership with Bovis Homes and we’re excited to be working together to deliver a whole new neighbourhood at Stanton Cross over the next decade.
“This major investment is part of Riverside’s objective to step up our response to the nation’s housing crisis, providing new homes across a range of tenures so that we can plough back the return on our investment into more affordable homes and services wherever they are needed. I believe that both organisations will benefit from the opportunity to work together in creating a new vibrant community where people will choose to live.”
The mixed-use Stanton Cross development will see a total of 3,650 new homes being built. It will also include more than 1.5m sq ft of industrial, leisure, retail and office space, and provide more than 3,000 jobs.