LONDON (Alliance News) - Sigma Capital Group PLC Tuesday said construction is underway on 200 new homes in Liverpool, England, the result of a regaeneration partnership with Liverpool City Council.
Sigma Capital said that 64 of the new homes will be constructed and made available to rent under its private rented sector (PRS) joint venture with Gatehouse Bank PLC, with the cost of developing the units estimated at about GBP6.7 million.
The remaining 136 homes will be built for private sale, Sigma said, with development being undertaken by Countryside Sigma, a joint venture with Countryside Properties (UK) Ltd.
"There is an urgent need for new homes - both for rent and for sale - in the region and we are pleased to play a part in helping to deliver them," Chief Executive Graham Barnet said in a statement.
"I am also very happy to see that a proportion of the new homes are being delivered through the PRS platform we have created and which commenced activity in November 2014. The mixture of tenures is a new development for the area and will give people a choice as to whether to buy or rent these high quality family homes. This development, which is being delivered at an accelerated rate, will transform a site that has lain derelict for so long," Barnet added.
Sigma Capital shares were up 2.0% at 62.21 pence on Tuesday.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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