21 Dec 2020 07:00
21 December 2020
AIM: SGM
SIGMA CAPITAL GROUP PLC
("Sigma" or the "Company")
The private rented sector and urban regeneration specialist
New Collaboration Agreement with Countryside Properties plc
Sigma, the PRS, residential development and urban regeneration specialist, is pleased to announce that it has signed a new collaboration agreement with Countryside Properties plc ("Countryside"), its principal home building partner, to deliver up to 5,000 new private rental sector ("PRS") homes over the next three years (the "Agreement").
The new Agreement marks the further expansion of Sigma and Countryside's existing, well-established and successful relationship, and follows a similar agreement signed in June 2018 for the delivery of 5,000 PRS homes. Homes under the existing agreement have now either been built or are in process.
The new Agreement will support both companies' growth ambitions, and delivery is across multiple regions of England. As before, the Agreement enables Sigma to map out housing delivery effectively and allows Countryside to deliver homes more quickly on its larger, mixed tenure sites.
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."
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."
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 |
N+1 Singer(NOMAD and Broker) | James Maxwell, James Moat, Sebastian Burke | 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. 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. In September 2020, the Company launched a joint venture with EQT Real Estate, the real estate platform of global investment firm EQT to establish a £1bn portfolio of high quality, new-build homes for private rental in Greater London.
About Countryside Properties plc
(www.countryside-properties.com)
Countryside is a leading UK mixed-tenure developer through its two divisions, Partnerships and Housebuilding.
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 Park, Essex, Springhead Park, Ebbsfleet and Tattenhoe Park, Milton Keynes.