Vistry has completed a part exchange portfolio transaction, selling 68 homes to national home buying and part exchange company Spring for more than £15m.
Vistry identified an opportunity to accelerate the conversion of a portfolio of completed part exchange properties spread across the UK into cash, releasing capital for reinvestment across its core business activities.
Part exchange helps customers who want to move by acquiring their existing home, allowing them to make their onward move to a new Vistry development.
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 of 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 supports a healthier, more functional housing market overall.”
Property services group Move With Us, part of Simplify, acted as introducer on the transaction.
