Vistry exits private market housing for Partnerships-only strategy

House builder Vistry is dramatically switching its business strategy in the face of falling private market sales to become a partnerships-only housing business.
Chief executive Greg Fitzgerald revealed the new strategy this morning and pledged to return £1bn to shareholders over three years as assets are released from the traditional house building division.
The decision to ‘merge out’ the housing business will lead to a sweeping reorganisation, cutting regional business units