10 March 2026
Vistry and Kier Property to deliver 97 PRS homes for Kennedy Wilson
The joint venture partnership between Vistry, the UK’s leading provider of mixed-tenure homes and Kier Property – who, as part of the Kier Group, invest in and develop mixed-use urban regeneration sites across the UK - have completed contracts for the forward funding of almost 100 new homes to global real estate investment company Kennedy Wilson at developments in Watford and South Wokingham.
This is the first collaboration between the firms, with all homes acquired for the private rented sector (PRS). Kennedy Wilson and the Vistry/Kier JV have completed contracts to enable the delivery of 47 high-quality new homes at ‘Avenues’ in Watford, Hertfordshire, as well as the forward funding of 50 PRS homes at the Holme Meadows development in South Wokingham.
The ‘Avenues’ site is located south of Watford General Hospital and Vicarage Road stadium and is the latest phase of the wider Watford Riverwell regeneration (a JV between Kier Property and Watford Borough Council), a visionary 1,100-home masterplan led by a collaboration between Kier Property and Watford Borough Council.
The 47 new homes will consist entirely of single-family houses, helping to address the shortage of high-quality rental accommodation in the area. Designated as a key regeneration site, the development benefits from exceptional connectivity - located just 16 minutes from Central London via Watford Junction and within walking distance of the town centre amenities.
All houses within the scheme will be delivered to an excellent specification, incorporating air source heat pumps and energy-efficient technologies to reduce carbon emissions and lower energy costs for residents. The development also includes significant improvements to local infrastructure and public spaces, supporting the growth of this vibrant new community. With full planning consent already secured, construction is anticipated to commence in mid-2026.
Kennedy Wilson has also acquired 50 single family homes for private rental at Holme Meadows, Vistry and Kier’s 343-home development in one of Berkshire’s most significant strategic growth locations. These homes will be in addition to the 35% affordable housing provision, supporting the long-term vision for balanced and sustainable communities. Construction on the development began in autumn 2025, with the first completions expected in summer 2026.
Kevin Delve, Managing Director at Vistry East London, said: “Avenues is an exceptional site in an outstanding location and we are delighted to have exchanged contracts on this latest phase alongside our partners at Kier Property. This marks the first partnership between Kier Property and Vistry’s London division, building on a strong national relationship and paving the way for further collaborations in the capital. Alongside the forward funding of 50 high‑quality homes at Holme Meadows in South Wokingham, these transactions will deliver 97 much‑needed homes for the private rented sector, providing greater housing choice for local communities while supporting the wider regeneration and sustainable growth of both areas.”
Leigh Thomas, Group managing director at Kier Property, commented: “We are thrilled to see the next phases of our master planned communities at Watford Riverwell and South Wokingham coming to fruition. Our relationship with Kennedy Wilson continues to go from strength to strength and these deals demonstrate how effective collaboration can unlock complex sites and deliver much-needed homes and infrastructure. Avenues at Watford, alongside our plans in South Wokingham, will be a fantastic addition to their respective neighbourhoods, building on the work already undertaken to create vibrant, sustainable communities.”
Mike Pegler, President, Kennedy Wilson Europe, added: “We are pleased to partner with Vistry and Kier Property to bring these high-quality single-family housing schemes to market. These acquisitions align with our strategy to deliver premium rental communities in key growth areas.”
Elected Mayor of Watford, Peter Taylor, said: “This next phase at Riverwell shows the strength of our long-term partnership and the continued confidence businesses have in Watford. By working closely with our partners, we are delivering high-quality, energy-efficient family homes alongside new infrastructure, improved connections, and public spaces for all to enjoy. It’s a clear example of how collaboration can help create new sustainable and thriving neighbourhoods for residents in our town.”