LONDON (Alliance News) - PRS REIT PLC on Thursday said it has bought nine private rented sector sites in the UK, including two from Sigma Capital Group PLC.
Sigma, in its own statement, said it has sold a completed site for approximately GBP11.7 million to PRS REIT, and it has also signed a forward contract with PRS for another one.
The completed site sold by Sigma to PRS REIT is in Salford, made up of 73 newly-built properties. The forward sold site is near Wakefield, Yorkshire, made up of 72 homes with an approximate gross development cost of GBP9.2 million.
The other seven sites acquired by PRS REIT are in the north-west of England and the West Midlands, made up of a combined 630 new homes once building is completed. They have a combined gross development cost of around GBP87.3 million with a rental income of GBP5.4 million per year.
Overall, the real estate investment trust said, the nine sites cover 775 new homes with a forecast annual rental income of GBP6.7 million per year and a gross development cost of GBP107.7 million.
PRS REIT shares were flat Thursday at 94.50 pence each, while Sigma shares were untraded, last quoted at 128.50p.
