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VIVID completes 10-year deal with Legal & General Homes to provide over 500 new homes

November 12, 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 sqm 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.”