Sigma Capital Group PLC 2,000th new rental home delivered for the PRS REIT
16 June 2020 - 4:00PM
RNS Non-Regulatory
TIDMSGM
Sigma Capital Group PLC
16 June 2020
16 June 2020
AIM: SGM
SIGMA CAPITAL GROUP PLC
("Sigma" or the "Company")
The private rented sector ("PRS") and urban regeneration
specialist
Landmark 2,000(th) new rental home delivered for the PRS
REIT
Sigma, the PRS, residential development and urban regeneration
specialist, is pleased to announce that the 2,000th new family
rental home has been delivered for The PRS REIT plc ("REIT" or "PRS
REIT") through the Company's PRS property platform.
Originally due at the end of March, until the coronavirus crisis
caused construction activity to be suspended, the milestone comes
just three years after the creation and launch of the REIT by Sigma
in 2017.
The 2,000th home is a three-bedroom house at the Abbotsfield
development in St Helens, Merseyside, and is part of a development
of 102 high-quality family homes. As with all the PRS REIT's sites,
the development is well-located, close to good primary schooling
and local amenities as well as to transport links. It is let under
Sigma's 'Simple Life' rental brand, which aims to set a new
standard of customer care in the private rental space.
Sigma currently has a further c.2,900 homes at various stages of
development for the REIT through its PRS property platform. These
homes are located across the English regions, including in the
North West, Midlands, Yorkshire, North East and South .
As Investment Adviser, Sigma subsidiary, Sigma PRS Management
Limited, sources suitable investments and development sites,
oversees the planning and construction processes, and manages the
PRS REIT's assets, in accordance with the REIT's investment policy.
Sigma's PRS property platform, which comprises relationships with
housebuilding partners, local authorities and Homes England, has
enabled the rapid progress of the REIT. The REIT has first refusal
on sites within Sigma's PRS property platform.
Graham Barnet, CEO of Sigma Capital Group plc, said:
"We are very pleased to have delivered the PRS REIT's 2,000th
home in just three years. The pace at which we have been able to
deliver new homes reflects the effectiveness of our property
platform, which brings together both land and construction
resource. Our key partners include Countryside Properties, as well
as local authorities and Homes England, and we currently have
around 2,900 further homes under way for the PRS REIT."
Steve Smith, Chairman of the PRS REIT, said:
"I am delighted that the PRS REIT has completed its 2,000th new
home. We have reached this milestone in just under three years and
a further 2,900 family rental homes are at various stages of
development across the regions of England.
"There is a critical need for quality rental homes for families,
and we look forward to continuing to play our part in meeting
demand for this important but highly underserved sector of the
housing market."
Enquiries:
Sigma Capital Group Graham Barnet, Chief Executive T: 020 3178 6378 (today)
plc
Mike McGill, Finance Director T: 0333 999 9926
KTZ Communications Katie Tzouliadis, Dan T: 020 3178 6378
Mahoney
N+1 Singer James Maxwell, James Moat, T: 020 7496 3000
(NOMAD and Broker) Ben Farrow
NOTES TO EDITORS
About Sigma Capital Group plc
( www.sigmacapital.co.uk )
Sigma Capital Group plc ("Sigma") is a PRS, 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 Investment Adviser to The
PRS REIT plc. It sources investments and operationally manages the
assets of The PRS REIT plc and advises the Alternative Investment
Fund Manager ("AIFM") and The PRS REIT plc on a day-to-day basis in
accordance with The PRS REIT plc's Investment Policy. The
Investment Manager is G10 Capital Limited. Sigma PRS Management Ltd
is an appointed representative of G10 Capital Limited, which is
authorised and regulated by the Financial Conduct Authority
(FRN:648953).
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 ("PRS") 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
with direct investments.
LEI: 21380037Q91HU97WZX58
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END
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