16 Jun 2020 07:00
16 June 2020
AIM: SGM
SIGMA CAPITAL GROUP PLC
("Sigma" or the "Company")
The private rented sector ("PRS") and urban regeneration specialist
Landmark 2,000th 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 plc | Graham Barnet, Chief Executive | T: 020 3178 6378 (today) |
Mike McGill, Finance Director
| T: 0333 999 9926 | |
KTZ Communications | Katie Tzouliadis, Dan Mahoney | T: 020 3178 6378 |
N+1 Singer(NOMAD and Broker) | James Maxwell, James Moat, Ben Farrow | T: 020 7496 3000 |
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 £500m (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