The portfolio, concentrated over south east England, will be managed by Leaf Living - backed by Blackstone and Regis.

The 1,750 homes are spread across 36 Vistry developments and are being sold in line with the housebuilder’s strategy of pre-selling 65% of all homes to help meet medium term financial targets.

The first completions under the agreement are expected by the end of June 2024.

The majority of sales are expected to complete within two years.

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“This agreement supports our differentiated business model, with the certainty provided by the pre-selling of homes enabling us to accelerate our build programmes, guarantee work for our supply chain, reduce sales and build costs and create vibrant new communities,” said Greg Fitzgerald, CEO at Vistry.

“This year we are on track to deliver more than a 10% increase in new home completions, playing a key part in helping to address the UK’s acute housing shortage.”

James Seppala, head of European Real Estate at Blackstone, added: “Institutional private capital can play an important role in providing high quality housing stock across the UK, particularly in the private rented sector which is significantly undersupplied today.

“Partnerships such as these can meaningfully accelerate the delivery of new homes and help alleviate structural undersupply across the sector.”