Sigma Capital Group PLC 2,000th home let for the Private Rented Sector
26 July 2018 - 4:02PM
RNS Non-Regulatory
TIDMSGM
Sigma Capital Group PLC
26 July 2018
26 July 2018
AIM: SGM
SIGMA CAPITAL GROUP PLC
("Sigma" or the "Group" or the "Company")
The private rented sector and urban regeneration specialist
2,000(th) home let for the Private Rented Sector
Sigma, the PRS, residential development and urban regeneration
specialist, is delighted to announce the letting of its 2,000(th)
home for the private rented sector ("PRS"). This is from a standing
start in November 2014 when Sigma's PRS activities formally
commenced via its PRS Platform.
The milestone underlines Sigma's position as a leader in the
delivery of new PRS homes, with the Company focused on family
housing, an undersupplied and growing part of the UK housing
sector.
The 2,000(th) home is located in Middleton, Greater Manchester,
and is part of a development of 110 two, three and four bedroom
houses. The site is conveniently located near key transport links
and is close to a number of good primary schools. Countryside
Properties Plc, a key partner in Sigma's PRS Platform, is currently
in the process of completing the scheme. The homes are being let
under Sigma's 'Simple Life' brand.
The majority of the 2,000 let homes were constructed for Sigma's
early PRS partners, Gatehouse Bank and UK PRS Properties. Sigma's
PRS Platform is now principally being deployed in support of The
PRS REIT plc, which was launched in May 2017 and is investing
c.GBP900m, including expected gearing, in establishing a nationwide
portfolio of high quality, new-build rental homes, across the major
conurbations of England, with the homes geared towards
middle-income families. Currently, over 1,300 homes are under
construction for The PRS REIT plc, with c. GBP437m committed to
additional development sites, as previously announced.
Graham Barnet, Chief Executive, of Sigma, commented:
"I am delighted to report the letting of our 2,000(th) home for
the private rental sector. We launched our PRS Platform some three
and a half years ago, with the support of our partners, and it is
very encouraging to have reached this milestone.
"We are focusing our efforts on delivering desirable,
professionally managed homes for middle-income tenants, young
couples and families. The need for families to have access to good
quality rental stock is increasing dramatically in the UK.
Currently there is a significant shortfall across all housing
tenures, with recent research suggesting that some 340,000 new
homes need to be built every year until 2031 to meet current and
future demand.
"Our model plays a part in addressing these housing issues, and,
with our partners, we look forward to assisting in the delivery of
many thousands of new homes."
Enquiries:
Sigma Capital Group Graham Barnet, Chief Executive T: 020 3178 6378
plc (today)
Malcolm Briselden, Finance Director T: 0333 999 9926
KTZ Communications Katie Tzouliadis, Emma Pearson T: 020 3178 6378
N+1 Singer James Maxwell, Liz Yong T: 020 7496 3000
(NOMAD and Broker)
NOTES TO EDITORS
About Sigma Capital Group plc
(www.sigmacapital.co.uk)
Sigma Capital Group plc 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. Its subsidiary,
Sigma PRS Management Limited, is Investment Adviser to The PRS REIT
plc.
About Sigma PRS Management Limited
Sigma PRS Management Limited is a wholly owned subsidiary of
AIM-quoted Sigma Capital Group plc and is the Company's Investment
Adviser. It sources investments and manages the assets of The PRS
REIT plc and advises the Alternative Investment Fund Manager
("AIFM") and the PRS REIT on a day-to-day basis in accordance with
the PRS REIT's Investment Policy. The Investment Adviser is an
appointed representative (reference number: 776293) of the
AIFM.
About The PRS REIT plc
(www.theprsreit.com)
The PRS REIT is a closed-ended real estate investment trust
established to invest in the Private Rented Sector and to provide
shareholders with an attractive level of income together with the
potential for capital and income growth. It has raised a total of
GBP500m (gross) through its Initial Public Offering, on 31 May
2017, and a subsequent placing in February 2018. Both fundraisings
were supported by the UK Government's Homes England.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
NRABBGDRCDDBGIU
(END) Dow Jones Newswires
July 26, 2018 02:02 ET (06:02 GMT)
Sigma Capital (LSE:SGM)
Historical Stock Chart
From Apr 2024 to May 2024
Sigma Capital (LSE:SGM)
Historical Stock Chart
From May 2023 to May 2024