LONDON (Alliance News) - Sigma Capital Group PLC Wednesday said it has expanded its private rented sector agreement with Gatehouse Bank to target 10,000 new homes over the next five years, which would increase the value of the portfolio under this deal to more than GBP1 billion.
The first phase of the Gatehouse deal is underway in Greater Manchester and Merseyside and discussions for the second phase of the programme are well-advanced, Sigma said.
"We are delighted that our relationship with Gatehouse is expanding and deepening in such a significant way. Gatehouse has led the way as a funder in the PRS space and this acceleration and expansion of our activities with them is evidence of the quality and success of our initial phase and the delivery platform we have built with Countryside and Direct Lettings," said Sigma Chief Executive Graham Barnet.
Sigma shares were up 11% to 78.00 pence on Wednesday morning, one of the best performers in the AIM All-Share index.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.
