Bovis Homes has now completed their £1.1bn deal with Linden Homes and Galliford Try’s housing and regeneration business and have now formed the new company ‘Vistry Group PLC’.

The Vistry Group PLC is now the new corporate name and will be used for both the enlarged group’s housebuilding and partnerships businesses. The enlarged housebuilding business will continue to operate with both the Bovis Homes and Linden Homes brands and Graham Prothero (Chief Executive Officer of Galliford Try) has been appointed as the Chief Operating Officer of the new company.

Greg Fitzgerald, CEO of Bovis Homes, said: “I am delighted that we have completed the exciting and transformational acquisition of the Linden Homes and Partnerships & Regeneration businesses of Galliford Try plc. The combination of these businesses with Bovis Homes creates a top five housebuilder in the UK with the capacity to deliver over 12,000 homes per year in the medium term.”

Bill Hocking, formerly chief executive of Galliford Try’s construction and investments business, has been appointed chief executive of Galliford Try Holdings plc, a newly-listed entity replacing the previous Galliford Try plc on the London Stock Exchange.

Hocking has been joined on the new executive board of the business by finance director Andrew Duxbury and general counsel and company secretary Kevin Corbett.

The current plc board, led by non-executive chairman Peter Ventress, remains in place, with Bill Hocking joining in his role as chief executive. (1)

It has also been announced that the London Association have now handed the newly formed group their first contract and it’s going to be a big one!

It has been said that the company will carry out work on Notting Hill Gensis’ £66million regeneration on the next phase of the Aylesbury Estate which will begin later on this year. The company will be working in partnership with Southwark Council and are planning to build a new commercial space and 122 new homes for rent in the next stage of the development as well as a new public library, health and early learning facilities. Out of the new homes, 99 will be let through Folio London (Notting Hill Gensis’) and 23 will be for social renting for people over the age of 55. (2)

This is exciting news for individuals working in the property and architecture industry and we look forward to seeing the finished development.

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References

1. Inside Housing – ‘Bovis Homes completes £1.1bn deal for Galliford Try’s housing and regeneration arm’ – Rob O’Connor – 5^th January 2020

2. Inside Housing – ‘London association hands newly formed Vistry Group its first major contract’ – Rhiannon Curry – 6^th January 2020