Vistry launches Discount Market Sale homes at Grantham, Lincolnshire
Vistry, the UK’s leading provider of mixed-tenure homes, has launched a new scheme at its Kings Newton development in Grantham, in partnership with South Kesteven District Council, enabling eligible purchasers to buy a new home at 20% below open market value. Delivered through a Section 106 agreement, the homes form part of a growing sustainable and mixed-tenure new community designed to provide high-quality housing alongside green space and local amenities.
A total of 23 well connected new homes have been provided at a discounted rate across the wider Kings Newton site, with a selection of high-quality two- and three- bedroom properties available through the Discount to Market Scheme (DMS). The scheme provides the opportunity for eligible purchasers to buy a new home at a discounted rate, while retaining full ownership.
Designed to support access to home ownership, the Discount to Market Scheme prioritises local people who would otherwise be unable to purchase a property at full market value. Buyers must meet strict eligibility criteria, including demonstrating a local connection to Grantham and using the property as their principal residence. To maintain long-term affordability, any future sale must also be to an eligible purchaser.
Kings Newton is a major mixed-tenure development that will deliver 228 new homes in total, creating a sustainable and well-connected community in South Kesteven. The development brings together private, affordable and rental homes to meet a wide range of local housing needs.
Following the successful delivery of Phase 1, which comprises 97 homes and is currently under construction, work is set to commence on the next phase of the development. This phase will deliver a further 83 homes, including affordable housing, helping to create a mixed-tenure community and broaden housing choice for local residents. The new homes will range from two to five-bedroom properties and will incorporate a range of sustainable features, including solar panels and electric vehicle charging points.
Alex Stark, Managing Director for Vistry East Anglia said: “We are delighted to be working with South Kesteven District Council to deliver these much-needed homes at Kings Newton. The Discount to Market Scheme provides a valuable opportunity for local people to step onto the property ladder, while ensuring the long-term affordability of high-quality homes within the community.”
Philip J. Rewcroft, Planning Policy Officer at South Kesteven District Council added: “The scheme provides much needed affordable housing to meet the needs of the local community. Discount Market Sales allow households to buy homes, which may have otherwise struggled to do so on the open market. By providing a mix of different types of homes for a broad range of households, the scheme helps to create a balanced and sustainable community for the present and future generations.
The Kings Newton development reflects Vistry East Anglia’s ongoing commitment to working in partnership with local authorities to deliver sustainable, high-quality homes that address local housing needs and support thriving communities.