Michael Stirrop said: “This transaction provides a clear route to unlocking value from a large and diverse portfolio, while simplifying our operational position.”
Vistry has completed the sale of a national part exchange property portfolio to Spring, selling 68 homes for more than £15m.
By buying the portfolio, Spring gave Vistry certainty and an efficient route to monetise a diverse group of properties.
Property services group Move With Us, part of Simplify, acted as introducer for the deal.
The deal supports Vistry’s balance sheet and capital allocation targets, while allowing the group to stay focused on building new homes.
Michael Stirrop, chief commercial officer at Vistry, said: “This transaction provides a clear route to unlocking value from a large and diverse portfolio, while simplifying our operational position.
“Partnering with a specialist like Spring enables us to move decisively at scale, reducing complexity and creating greater flexibility in how we deploy capital across the business.
“It is a practical example of how we are evolving our approach to support both near-term delivery and longer-term growth.”
Shane Miller‑Bourke, co‑CEO at Spring, said: “This major transaction, our first with a PLC, provides vital liquidity and certainty into an area of the market that can otherwise tie up capital for extended periods.
“By acquiring portfolios at scale, we enable housebuilders to accelerate cash conversion, reduce operational drag and reinvest with confidence in delivering new homes.
“Ultimately this helps support a healthier, more functional housing market overall.”
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