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The Latest Breaking News from Vistry

Shares in housebuilder Vistry plunge as cost overruns hit profits

Firm issues second profit warning in a month after review into ‘understated’ build costs in south division

The Guardian - UK

Vistry warns of extra costs and supply chain hit due to tax changes in Budget

The housebuilder said it is ‘assessing the impact’ of Labour’s autumn Budget in which Chancellor Rachel Reeves raised employer taxes.

The Independent UK

FTSE 100 Live 08 November: British Airways owner IAG soars on results beat, retail stocks struggle

IAG shares soared in the FTSE 100 index today after the British Airways owner reported a bumper summer.

Evening Standard

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Housebuilder Vistry loses more than £1bn in value after profit warning

FTSE 100 company once known as Bovis Homes says profits will shrink over three years after it underestimated building costs

The Guardian - UK

Vistry shares crash after disastrous profit warning on building costs

The FTSE-100 developer said it had “recently become aware” of the issue at nine major schemes

Evening Standard

Seven years after Grenfell disaster, thousands live in fear of cladding fire

As the final report on the fatal London blaze looms, many developers have not begun safety work

The Guardian - UK

Private equity behemoth Blackstone and property investor Regis to buy £570m of affordable homes in Vistry deal

The trillion-dollar asset manager Blackstone has become a larger player in the UK’s affordable housing market in recent years

Evening Standard

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Homelessness charity enters administration after dispute with property fund landlord

Noble Tree Foundation withheld rent from Home Reit, some of whose homes it claimed were ‘unfit to live in’

The Guardian - UK

BA to hire 350 staff at Heathrow to avoid summer chaos – as it happened

Airline expects this summer to be its busiest since the pandemic and will hire people in customer services and ground handling

The Guardian - UK

Housebuilder shares fall as competition watchdog opens investigation; UK retail sales slump eases – as it happened

The CMA has opened an investigation into eight housebuilders following evidence they may be sharing commercially sensitive information.

The Guardian - UK

Blackstone head Steve Schwarzman plans to spend billions buying up dorms, warehouses, and data centers across Europe: ‘We have enormous capital and can buy the types of real estate that we like’

The world’s largest owner of commercial real estate is eyeing deals across Europe as interest rates stay high.

Fortune

Housebuilder Vistry expects £40 million profit hit, 200 job losses, from closure of private housing arm

The FTSE 250 firm revealed plans to close down its private housebuilding arm last month, as its private sales arm was hit by skyrocketing interest rates

Evening Standard

UK building group Vistry to focus solely on social housing

Streamlining operations will result in some job cuts while investors will receive £1bn over next three years

The Guardian - UK

Housebuilder Vistry to cut jobs as it focuses solely on affordable housing partnerships

Vistry posted resilient first-half results, mainly thanks to the strength of its affordable housing partnership divisions

Evening Standard

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Nottingham Post

Nottinghamshire County Council to spend £4m so Top Wighay construction can begin

More than 800 houses have already been given outline planning consent for the site

Birmingham Post

Construction of new Salisbury homes starts with plans for 640 properties

Vistry Group acquired the Wiltshire site earlier this year, with the housebuilder saying its interest in buying the land stretched back 10 years

Evening Standard

All in this together? Not if you are on a chief executive’s pay

City Voices: FTSE bosses pay just keeps rising

Chronicle Live

Investigation launched after incident on Birtley construction site

Emergency services were called to a construction site in Birtley on Tuesday afternoon

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Birmingham Post

Developer working on 200 new homes in Wadebridge Cornwall

Vistry Group, which builds Bovis and Linden properties, is currently working on the housing project in Wadebridge

Evening Standard

Vistry builds up profits as demand for affordable homes stays high

Vistry last year completed a £1.1 billion acquisition of Countryside Partnerships, which significantly increased its affordable homes division

Birmingham Post

Land for 640 homes near Salisbury bought by housebuilder

Vistry Group said it had been interested in acquiring the site for a decade

Birmingham Post

Vistry achieves board gender parity with managing director appointment

Emma Colin will oversee the delivery of new properties for Bovis and Linden homes in the West of England and Wales

The Guardian - UK

Early medieval female burial site is ‘most significant ever discovered’ in UK

Find dating from about 650AD in Northamptonshire includes jewelled necklace and changed archaeologists’ view of the period

Evening Standard

Further signs of cooling housing market after Countryside Properties accepts lower Vistry offer

In June, Countryside rejected an unsolicited offer from Inclusive Capital that valued the firm at £1.5 billion

The Guardian - UK

UK housebuilders Vistry Group and Countryside to merge in £1.3bn deal

Former Bovis Homes snaps up smaller rival after campaign by two US activist investors

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