The homes are on plots located across 70 of Vistry's developments, with delivery to commence this year and many of the homes completed within the next two years.

The plots formed part of the group's former housebuilding landbank and are being pre-sold in line with the group's strategy of pre-selling around 65% of all units across the business.

The agreement aims to help meet the acute need for housing across the country, with the transaction comprising 1,522 units for the PRS being delivered to Leaf, and 1,393 affordable homes for rent and shared ownership delivered to Sage.

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Vistry and Sage intend to utilise their existing Homes England grant funding under the Affordable Homes Programme to spearhead an initial tranche of delivery of both rented and shared ownership affordable homes.

Greg Fitzgerald, CEO at Vistry Group, commented: "We have an excellent track record of working in partnership with Leaf and Sage to deliver new homes, and I am extremely pleased to have reached agreement to grow these relationships through this exciting, market leading opportunity.

“Through our unique partnerships model, Vistry is maintaining the momentum of delivery of much needed affordable housing across the UK. 

“Our strategy gives the group significantly greater visibility on earnings than traditional housebuilders, and this new partnership and others to follow will help us drive towards our medium-term targets and the delivery of £1bn of shareholder distributions over the next three years."