16 Jul 2021 07:00
16 July 2021
AIM: SGM
Sigma Capital Group plc
("Sigma")
The private rented sector ("PRS") and urban regeneration specialist
4,000th new rental home delivered for The PRS REIT plc
Sigma, the private rented sector, residential development and urban regeneration specialist, is pleased to announce that it has delivered the 4,000th rental home for The PRS REIT plc ("REIT" or "PRS REIT"), cementing Sigma's position as the leading operator in the delivery of new-build single family rental homes in the UK.
The delivery, effected through Sigma's PRS property platform, takes the total estimated rental value ("ERV") of the PRS REIT's portfolio to approximately £37.7m per annum. As at 30 June 2021, 1,096 additional homes were at various stages of development, as delivery approaches the PRS REIT's initial target of 5,200 homes with an ERV of approximately £50.0m per annum.
The 4,000th home is a three-bedroom house at the Duttonfields development on Deeside, close to Chester. It is part of a scheme of 99 high-quality family homes, with an ERV of approximately £870,000 per annum. The house is let under Sigma's award-winning 'Simple Life' rental brand, and, in common with other PRS REIT sites, is located close to transport links, good primary schooling and local amenities.
As Investment Adviser to the REIT, Sigma's subsidiary, Sigma PRS Management Limited, sources suitable investments and development sites, oversees the planning and construction processes, and manages the 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.
Graham Barnet, CEO of Sigma Capital Group plc, said:
"The delivery of The PRS REIT's 4,000th rental home marks another significant milestone as we approach the REIT's initial target of 5,200 homes. It also underlines Sigma's position as the leading delivery provider of new-build family rental homes in the UK. With over 1,000 further homes under way, we look forward to reaching the REIT's target by early 2022."
Steve Smith, Chairman of The PRS REIT plc, said:
"I am delighted that The PRS REIT plc's portfolio now stands at 4,000 new homes - the largest build-to-rent single family rental portfolio in the UK. There is huge demand for our high-quality, professionally-managed family rental homes, and we are pleased to be creating new homes across the regions that help to fulfil a critically underserved segment of the UK population."
Enquiries:
Sigma Capital Group plc | Graham Barnet, Chief Executive | T: 020 3178 6378 (today) | ||
Mike McGill, Group Chief Financial Officer | T: 0333 999 9926 | |||
KTZ Communications | Katie Tzouliadis, Dan Mahoney | T: 020 3178 6378 | ||
Singer Capital Markets (NOMAD and broker) | James Maxwell, Hannah Woodley, Sebastian Burke | T: 020 7496 3000 |
NOTES TO EDITORS
About Sigma Capital Group plcwww.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. The Company 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.
Sigma has created an unrivalled PRS platform, which sources sites and brings together construction resource to develop them, enabling Sigma to deliver an integrated solution to partners. As well as sourcing sites and managing all stages of the planning and development process, Sigma also manages the rental of completed homes through its award winning rental brand 'Simple Life'. The Company's 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 plcwww.theprsreit.com
The PRS REIT plc is a closed-ended real estate investment trust established to invest in the Private Rented Sector and to provide shareholders with an attractive level of income together with the potential for capital and income growth. The Company is investing £0.9bn in a portfolio of high quality homes for private rental across the regions, having 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