Quick-buy firm targets £100m of deals in 2023

Quick-buy and part exchange company Spring has announced a leadership reshuffle as it targets £100m of property acquisitions and sales this year.

This would be an increase on the £75m of transactions the brand was involved in during 2022.

Its current chief executive and co-founder Cormac Henderson will take on a new role as executive chairman, while co-founder and chief investment officer Shane Miller-Bourke and chief operating officer Samar Shaheryar will become co-chief executives.

Henderson will focus on strategic projects and new business, in particular business-to-business partnerships with estate agents, developers and retirement living operators.

He said: “I am incredibly proud of what we have achieved together but it’s time to step aside as chief executive so the business can continue to flourish and achieve its next set of goals under the extremely talented co-leadership of my colleagues, who I will continue to support and challenge. 

“Samar and Shane have the combined skill set to take us forward with a relentless focus on operating execution, cost management, tech transformation and trading ingenuity.”

In a joint statement, Shaheryar and Miller-Bourke, said: “We have built a strong national brand and shown the market that there is another way to sell your home, making it radically easier for people to move. 

“As we move to the next phase of growth for Spring, we intend to lead with three core principles, all underpinned with a focus on technology; creating easy and fast customer journeys, cultivating a thriving and happy team and encouraging the diversity of thought we know leads to the innovation the industry needs.”