3rd Jun 2016 07:02
LONDON (Alliance News) - Sigma Capital Group PLC on Friday said it has entered into a new strategic partnership with housing and regeneration company Keepmoat Ltd which is expected to result in the construction of more than 5,000 new private rented sector homes.
Sigma, a private rented sector and urban regeneration property firm, said the partnership will deliver two, three and four bedroom properties in locations across the North East of England, Yorkshire and the East Midlands, with a potential investment value of GBP800 million by 2021.
Sigma will manage investment and lettings, while Keepmoat will procure the land and take the lead on the design, planning and building processes, Sigma said. This marks Keepmoat's first development activity in the private rented sector market, Sigma added.
Construction on the site is due to commence this summer.
"I am delighted to announce our partnership with Keepmoat, which has grown out of our previous relationship with them, and our continued expansion in the private rented sector. We are very pleased that Keepmoat has chosen to work with Sigma in its first development activity in the PRS market, and believe that it underscores Sigma's success in the private rented sector," said Sigma Chief Executive Graham Barnet.
"This partnership will enable us to expand into other parts of the UK, where currently we do not have coverage. It also complements our existing partnership with Countryside Properties PLC by significantly increasing our construction resources and providing further access to land assets in geographies not served by our existing partners," Barnet added.
By Hannah Boland; [email protected]; @Hannaheboland
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