Vistry Group, a provider of mixed-tenure homes, has announced its first deal with Placefirst, a build-to-rent property developer-operator, for 139 of the 156 new homes that have been given the green light on Redruth Road, Mansfield.

Once constructed by Vistry, Placefirst will manage the homes for long-term rent.

The 9.8-acre site, previously owned by Mansfield District Council, has full planning permission for 156 properties, secured with the assistance of O’Connell Property Ltd – two, three, and four-bedroom homes, as well as one-bedroom maisonettes.

As well as building new homes, Vistry is committing £536,869 to bolster local services. This includes a £91,576 cash injection for healthcare, £90,322 towards education and £318,062 for roads and transport. The scheme will also include a leap and trim trail through the public spaces and playground equipment for younger members of the community.

The homes will be manufactured off site using open panel timber frames from the Vistry Works East Midlands factory in Bardon, Leicestershire. 

Lee Parry, managing director, of Vistry North East Midlands, said: “It’s great to be working with Placefirst as we embark on what we hope is the first scheme of a fruitful partnership. Together we can make inroads into the shortage of rental properties in the region, bringing new family homes where they are needed most.

“We’re excited to have secured full planning permission for this site, which forms part of Nottinghamshire’s ongoing growth, and to be entrusted with creating high-quality homes here that will strike a harmonious balance between family-friendly housing and green open spaces, creating a thriving and sustainable community.”

Henry Marshall, investment director for Placefirst, added: “As we grow, our priority remains providing residents with the sort of exceptional stress-free living experience that inspires them to see the benefits of renting, and treat it as an active choice.

“Through a shared commitment to minimising environmental impact while keeping energy bills low for residents, this new partnership with leading housebuilder Vistry Group marks a step up in our ambitions for nationwide growth, while ensuring we continue delivering the market-leading standard of homes we are known for.

“Mansfield has faced challenges in meeting rising demand for homes, as seen by the increased housing target last year. This collaboration will play a key role in driving the town’s progress by delivering diverse, high-quality homes that support a growing population.”