A JOINT venture between two developers to build 245 new homes on land near Wadebridge has been approved by Cornwall Council.

It will see more than 120 affordable homes on the development, which is a joint venture between Vistry, a national builder of mix-tenured homes and Livewest, one of Cornwall’s largest housing association provider.

Operating as a 50/50 Joint Venture, the partners will deliver 50 per cent of the site in affordable tenures.

The new development builds on Vistry and LiveWest’s well-established partnership across the region. The two businesses have previously built many hundreds of new homes together, with more than 120 affordable homes delivered last year in Cornwall.

Peter Sadler, managing director of Vistry Cornwall, said: “We’re delighted to have secured planning approval for this site in partnership with LiveWest, a key step towards delivering hundreds of high-quality, mixed-tenure homes in Wadebridge. By working together, we have been able to increase the affordable housing contribution to 50 per cent, exceeding local policy requirements and helping to meet the demand for affordable homes in Cornwall. With planning approval now in place, we expect work to get underway early next year.”

Gareth Jones, development director for LiveWest, said: “We are thrilled planning permission has been granted for this joint venture development between LiveWest and Vistry which will provide a fantastic opportunity for local people to access secure, energy-efficient and affordable homes.

“There is a real shortage of quality, affordable homes in Cornwall, which is why we are so pleased to build on our long-standing partnership with Vistry to deliver these new homes for rent, shared ownership and outright sale in Wadebridge.

“This development will form part of our plans to deliver around 1,000 affordable homes across Cornwall over the next five years.”