This portfolio consists of homes spread across the country.

By acquiring these homes, Spring provided Vistry with certainty of execution and a route to monetising a diverse group of completed properties.

“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,” said Michael Stirrop, CCO at Vistry.

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“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, added: “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.”