1 Feb 2021 07:00
1 February 2021
AIM: SGM
SIGMA CAPITAL GROUP PLC
("Sigma" or the "Company")
The Private Rented Sector ("PRS") and urban regeneration specialist
London Joint Venture with EQT Real Estate
Appointment of Property Services Group
Sigma, the Private Rental Sector ("PRS"), residential development and urban regeneration specialist, is pleased to announce that its joint venture with EQT Real Estate ("EQT") has appointed a London-based property services group, Kinleigh Folkard & Hayward ("KFH"), as partner to assist with the lettings and asset management of its build-to-rent portfolio currently being established in London. This represents a further extension of Sigma's UK-wide PRS platform, adding extensive local knowledge and infrastructure as Sigma rolls out a significant PRS portfolio in London with its partner, EQT. The initial seed assets of the joint venture are progressing as planned, and first tenants are expected to take occupancy of completed homes before the end of April 2021.
KFH, which currently oversees a portfolio of 30,000 residential units across London, will be working under the direction of Sigma and all new rental homes will be marketed and let under Sigma's 'Simple Life London' brand (www.simplelifelondon.co.uk/). This brand is an extension of Sigma's award-winning letting brand, 'Simple Life', which is setting a new, higher standard of customer care within the private rental market across the UK regions.
The joint venture with EQT, launched at the end of September 2020, is targeting the delivery of an initial portfolio of c.3,000 rental homes across Greater London over the next five years with a value of over £1bn. The portfolio will consist of high quality, build-to-rent apartment blocks located in the more affordable parts of Greater London, primarily in TfL Zones 3-6 and close to transport links and including sites with train access to central London. The joint venture's first homes are at Fresh Wharf, Barking and Beam Park, Rainham and will be launched in February 2021.
Rob Sumner, Residential Investment Director at Sigma Capital Group plc, commenting, said:
"We are very pleased to appoint KFH in readiness for the launch of our first new rental homes in London under our joint venture with EQT Real Estate.
"KFH has established an excellent reputation in the private rental property market in London and their values of exceptional customer service align with ours. We look forward to the launch of our first completed apartments in East London and to welcoming our first Simple Life London residents before the end of April."
Paul Masters, Group Operations Director at Kinleigh Folkard & Hayward, commenting, said:
"We are delighted to have been appointed to lease up and manage assets within this portfolio under the Simple Life London brand, working with Sigma and EQT Real Estate's exciting joint venture company to establish their presence in the Capital.
"During the last six months, we have built a close working relationship with the Sigma team in preparation for the imminent first releases in East London.
"This appointment reinforces our position as the essential partner to help deliver build-to-rent solutions to best in class owners in the London market."
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 | ||
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 property 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, the real estate investment trust that is investing £0.9bn in a portfolio of high-quality new rental homes for private rental across the regions.
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 EQT Partners and EQT Real Estate
EQT Partners is a purpose-driven global investment organization with more than EUR 84 billion in raised capital and over EUR 52 billion in assets under management across 17 active funds. EQT funds have portfolio companies in Europe, Asia-Pacific and North America with total sales of more than EUR 27 billion and approximately 159,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.
EQT Real Estate, part of EQT Partners and Investment Advisor to EQT-managed real estate funds, seeks direct and indirect controlling interests in value-add real estate assets, portfolios, operating companies and platforms across gateway cities in the UK and Europe that offer significant potential for value creation through repositioning, redevelopment, refurbishment and active asset management. The EQT Real Estate Advisory Team comprises 25 experienced professionals working out of EQT's offices in London, Madrid, Milan, Paris and Stockholm. The Advisory Team, which has access to the full EQT network including 11 European offices and more than 500 EQT Advisors, has experience analyzing and investing across the pan-European real estate market and has, collectively, advised on over 130 real estate projects in multiple asset classes across Europe.
More info: www.eqtgroup.com
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