21 Dec 2020 07:00
21 December 2020
Countryside Properties plc
New Collaboration Agreement with Sigma Capital
Countryside Properties plc ("Countryside" or "Group"), a leading UK mixed-tenure developer, announces today that it has further expanded its strategic relationship with Sigma Capital plc ("Sigma"), a specialist Private Rental Sector ("PRS") provider. The new Collaboration Agreement ("Agreement") will deliver up to 5,000 new PRS homes across multiple regions in England over the next three years.
The Agreement further expands Countryside and Sigma's well-established, successful partnership and builds on a similar agreement signed between the two companies in June 2018 for the delivery of 5,000 PRS homes that have now either been built or are under construction.
Countryside continues to see attractive opportunities for growth to deliver a mix of private for sale, PRS and affordable homes, supporting its target of delivering 8,000 homes p.a. in Partnerships by 2023.
Iain McPherson, CEO of Countryside Properties plc, commented:
"We are pleased to be furthering our long-standing partnership with Sigma Capital, who shares our commitment to delivering high quality, professionally managed rental homes for families across the country. We continue to see attractive opportunities within our Partnerships business to deliver much needed, high quality and sustainable mixed-tenure communities in the UK."
Graham Barnet, CEO of Sigma Capital Group plc, commented:
"We are delighted to be extending our relationship with Countryside with this new Collaboration Agreement. Our partnership over the past six years has been a highly successful one, and this agreement will allow us to plan more effectively the further delivery of up to 5,000 new rental homes over the next three years. The need for well-managed, high-quality rental housing remains a priority for most parts of the country. We look forward to continuing to help meet this need."
- ENDS -
Enquiries:
Countryside Properties - 01277 260 000
Iain McPherson - Group Chief Executive
Mike Scott - Group Chief Financial Officer
Victoria Prior - Managing Director, Corporate Affairs
Brunswick Group LLP - 020 7404 5959
Nina Coad / Oliver Sherwood
Notes to Editors:
Countryside is the UK's leading mixed-tenure developer through its two divisions, Partnerships and Housebuilding, creating places where people love to live, with sustainable communities built to last. In April 2020, it was awarded the 5 Star Rating by the Home Builders Federation following the latest home building industry's Customer Satisfaction Survey.
Countryside's Partnerships division was established over 40 years ago, specialising in estate regeneration, with operations in London, the South East, the North West, the Midlands and Yorkshire. It works mainly on public sector owned and brownfield land, in partnership with local authorities and housing associations to develop private, affordable and PRS homes. It recently established a modular panel manufacturing facility in Warrington to improve quality and reduce build times on site. Its developments include large scale urban regeneration projects at Beam Park, Rainham; Acton Gardens, Ealing; and Rochester Riverside, Medway.
Countryside's Housebuilding division benefits from an industry leading strategic land bank which is focused around outer London and the Home Counties. It builds family homes, with a focus on placemaking and selling to local owner occupiers. Its developments include a number of large-scale projects including Beaulieu, Chelmsford, Springhead Park, Ebbsfleet and Tattenhoe Park, Milton Keynes.
Countryside delivered 4,053 homes in the twelve months to September 2020 - 3,213 through its Partnerships division and 840 through its Housebuilding division, with a mix of private for sale, PRS and affordable homes. The Group has a strong balance sheet with new framework agreements signed during 2020 which, along with a record forward order book, up 23% to £1,432m, underpin the mixed-tenure delivery model focused on delivering quality homes and sector leading growth. It was listed on the London Stock Exchange in February 2016 as a constituent of the FTSE 250.
For more information see www.countrysideproperties.com or follow @CountrysideProp on Twitter