Vistry Group PLC said on Monday it had secured a £350 million grant from the UK government, the largest single award under the current phase of the Social and Affordable Homes Programme. The funding will support the delivery of more than 3,000 affordable homes, according to the company.
The grant is part of the government's £39 billion Affordable Homes Programme, which aims to create over 73,000 new homes. Vistry, which has participated in the scheme since 2006, received an initial award of £83 million in 2021 under the previous programme. Over the 2021-2026 cycle, the group secured a total of £278 million as a Strategic Partner, enabling the construction of over 3,500 affordable homes.
The £350 million award will be deployed this year, with Vistry working alongside Strategic Partners, Mayoral Authorities, and local councils as they commit funding from the first £9.58 billion allocation. The company has relationships with 29 of the 32 other strategic partners named in the government announcement and operates within all designated Mayoral Strategic Authorities.
Chief Executive Adam Daniels said Vistry's long-standing collaboration with Homes England and partner providers under successive affordable housing programmes underscored its commitment to addressing housing needs. "This award reflects our established track record," he said.
