Vistry to construct partner-funded scheme in Ealing

House-building company Vistry Group has been selected by Sovereign Network to construct and deliver a 100% partner-funded scheme at Merrick Place in Ealing worth £157.0m.

Vistry said on Tuesday that this "innovative, residential-led scheme" will create 575 new mixed-tenure homes, along with commercial floorspace across four separate buildings, and will include affordable homes for rent, shared ownership and PRS.

The FTSE 250-listed firm added that the development will be a car-free zone, featuring 926 designated spaces for bicycle parking and two dedicated servicing bays.

Chief executive Greg Fitzgerald said: "We are delighted to be appointed on this fantastic new development in Ealing working with one of our established partners. Not only are we bringing forward 575 much-needed new mixed-tenure homes for the local community, but the scheme is also facilitating new job and apprenticeship opportunities for local residents."

As of 0905 BST, Vistry shares had slumped 5.73% to 72.45p.

Reporting by Iain Gilbert at Sharecast.com