Sigma Capital Group PLC 1,000th PRS Home & 1st Self-funded Site Completed
24 November 2016 - 6:01PM
RNS Non-Regulatory
TIDMSGM
Sigma Capital Group PLC
24 November 2016
24 November 2016
AIM: SGM
Sigma Capital Group plc
("Sigma" or the "Company")
The private rented sector ("PRS") and urban regeneration
specialist
Completion of 1,000th PRS Home
&
Completion of First Self-funded Site
Sigma, the private rented sector specialist, is pleased to
announce the completion and letting of its 1,000th rental home.
This milestone event takes the gross development cost of the new
homes completed by Sigma's PRS platform to GBP120m since
construction commenced in December 2014. The rental income stream
from these new homes is in excess of GBP8.0m per annum.
The new homes have been built for Sigma's funding partners,
Gatehouse Bank and UK PRS Properties, with a proportion built for
the Company's own self-funded portfolio of PRS assets, launched in
December 2015. All the homes are located across 18 sites in Greater
Manchester and Merseyside.
Sigma is also pleased to announce the completion of its first
self-funded site comprising 50 new rental homes, mainly consisting
of three bedroom family residences at Mackets Lane in Merseyside.
Rental demand for the new homes is strong and the site is almost
fully let. The delivery of a further three sites, two in Greater
Manchester and the third in Sheffield, totalling 173 homes, is
progressing well. All three sites are expected to be completed by
summer 2017.
Graham Barnet, CEO of Sigma, commented:
"We are delighted to announce the completion and letting of our
1,000th new rental home. We have delivered these high quality homes
with our partners in just under two years and this milestone event
underlines Sigma's position as a leading participant in the private
rented sector. I would like to thank Gatehouse Bank, UK PRS
Properties, Countryside Properties and Shepherd Direct Lettings as
well as our council partners for supporting us through to this
landmark point.
We are also pleased to have completed our first self-funded site
of 50 PRS homes, with a further three sites well underway. Demand
for new rental homes remains strong and we look forward to growing
both our own PRS portfolio and those of our partners as we expand
our geographic presence across the key cities and towns of
England."
Enquiries:
Sigma Capital Graham Barnet, Chief T: 020 3178 6378
Group plc Executive (today)
Malcolm Briselden, T: 0131 220 9444
Finance Director
KTZ Communications Katie Tzouliadis, T: 020 3178 6378
Viktoria Langley,
Emma Pearson
N+1 Singer James Maxwell, Sandy T: 020 7496 3000
(NOMAD and Broker) Ritchie
About Sigma Capital Group plc
www.sigmacapital.co.uk
Sigma is a private rented sector, residential development, and
urban regeneration specialist, with offices in Edinburgh,
Manchester and London. Sigma's principal focus is on the delivery
of large scale housing schemes for the private rented sector. It
has a well-established track record in assisting with
property-related regeneration projects in the public sector, acting
as a bridge between the public and private sectors.
This information is provided by RNS
The company news service from the London Stock Exchange
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