Vistry Group: Organizational Structure, Scale Advantages & Housing Associations
Former Partnerships Director at Countryside
inpractise.com/articles/vistry-group-organizational-structure-scale-advantages-and-housing-associations
Former Partnerships Director at Countryside
The executive has over 20 years experience in the UK housing sector. The executive has held roles with homebuilders, housing associations and has focused on the development of affordable housing.
Interview Transcript
This is a snippet of the transcript, sign up to read more.
But how common is it to sign a contract 12 to 18 months in advance?
If the market is buoyant and there's substantial activity with the housing associations, I would be more inclined to wait and then go out to market. However, given the current tightening of the market, as we've already discussed with housing associations, Countryside might want certainty that they can place these schemes with a housing association. They may prefer to go early to secure the housing association's capacity, rather than waiting until a few months before the scheme is ready and risk finding no available housing association. It's a judgment call, really. There's no definitive right or wrong approach, it's about assessing the market conditions.
This is a snippet of the transcript, sign up to read more.
What would those advantages be?
Greater scale, essentially. If you have a larger scale between yourselves, you become more important to each other. This should lead to quicker resolution of issues as they tend to be handled at a higher level. However, in my experience, coordination between the divisions is challenging, and divisional relationships are still necessary unless you're going to assign a dedicated national person to work with one national RP across all schemes. Even then, the divisions and regions will want some control over their schemes.
This is a snippet of the transcript, sign up to read more.
Could you expand on that for me?
Each region or division has its own targets to meet. I'm not sure about the current bonus structure, but when I was there, it was directly tied to the performance of your region. If your region did well, you received a bonus. If it didn't, you didn't get a bonus. I believe Vistry might have a more centralized approach, but it's generally more region-driven. Each Managing Director is in charge of their own targets.
This is a snippet of the transcript, sign up to read more.
Related Content
Vistry Group: UK Housing Partnerships Model
Former Partnerships Director at Countryside
Vistry Group: UK Housing Shortage & Affordable Housing
Former Partnerships Director at Countryside
Vistry Group: Regeneration Projects & Planning Process
Commercial Director at L&Q
Vistry Group: PRS Partnerships
Commercial Director at L&Q
Copyright Notice
This document may not be reproduced, distributed, or transmitted in any form or by any means including resale of any part, unauthorised distribution to a third party or other electronic methods, without the prior written permission of IP 1 Ltd.
IP 1 Ltd, trading as In Practise (herein referred to as "IP") is a company registered in England and Wales and is not a registered investment advisor or broker-dealer, and is not licensed nor qualified to provide investment advice.
In Practise reserves all copyright, intellectual and other property rights in the Content. The information published in this transcript (“Content”) is for information purposes only and should not be used as the sole basis for making any investment decision. Information provided by IP is to be used as an educational tool and nothing in this Content shall be construed as an offer, recommendation or solicitation regarding any financial product, service or management of investments or securities. The views of the executive expressed in the Content are those of the expert and they are not endorsed by, nor do they represent the opinion of In Practise. In Practise makes no representations and accepts no liability for the Content or for any errors, omissions, or inaccuracies will in no way be held liable for any potential or actual violations of laws, including without limitation any securities laws, based on Information sent to you by In Practise.
© 2024 IP 1 Ltd. All rights reserved.