3,000th new rental home delivered for The PRS REIT

3 December 2020

AIM: SGM

SIGMA CAPITAL GROUP PLC

("Sigma" or the "Company")

The private rented sector ("PRS") and urban regeneration specialist

3,000th new rental home delivered for The PRS REIT plc

Sigma, the PRS, residential development and urban regeneration specialist, is pleased to announce that the 3,000th new family rental home has been delivered for The PRS REIT plc ("REIT" or "PRS REIT") through the Company's PRS property platform. This takes the total number of PRS homes delivered by Sigma to approximately 4,725 homes over the last six years.

The completion marks another significant milestone in the development of the PRS REIT's portfolio of high-quality family rental homes since its launch in May 2017, and brings the estimated rental value of its portfolio to approximately £28m. After the lifting of the first national coronavirus-related restrictions in May 2020, the pace of construction has accelerated steadily, and a further 2,003 homes are currently at various stages of development for the PRS REIT. Homes are located across the English regions, including the North West, Midlands, Yorkshire, North East and in the South of England.

The 3,000th home is a three-bedroom, semi-detached house located on the Millard Grange development in Houghton Regis, Bedfordshire, and is part of a development of 129 high-quality rental homes. As with all of the PRS REIT's sites, the development is well-located, close to good primary schooling and local amenities. It is let under Sigma's 'Simple Life' rental brand.

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 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 launch of Sigma's London joint venture with EQT Real Estate in September 2020 has since expanded the geographic reach of the platform to include the capital.

Graham Barnet, CEO of Sigma Capital Group plc, said:

"We are very pleased to have delivered The PRS REIT plc's 3,000th rental home. It takes our total delivery to 4,725 PRS homes over the last six years when our first major PRS housing programme started in 2015. A further 2,003 homes are under way for the REIT as we progress to its initial target of some 5,200 new homes throughout the regions of England. We have also expanded the scope of our PRS activities with the launch of our London joint venture with EQT in September, which will see us deliver over 3,000 new homes in the capital."

Steve Smith, Chairman of The PRS REIT plc, said:

"I am delighted that the PRS REIT's 3,000th new rental home has now been completed. Reaching this milestone so quickly after the first national lockdown reflects the strength of the model.

"We are serving one of the most undersupplied sectors of the UK property market, and look forward to providing families with a broad selection of high-quality rental options as our portfolio of new homes completes."

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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.

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 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