Sale of Completed and Let Development

5 October 2020

AIM: SGM

SIGMA CAPITAL GROUP PLC

("Sigma" or the "Company")

The Private Rented Sector ("PRS") and urban regeneration specialist

Sale of Completed and Let Development

Sigma, the Private Rental Sector ("PRS"), residential development and urban regeneration specialist, is pleased to announce the sale of a completed and fully-let PRS development to The PRS REIT plc ("the PRS REIT") for c. £5.9m. 

The development is in Handsworth, Birmingham and consists of 31 homes designed for the family rental market. The properties comprise a mix of three and four bedroom family homes and provide a combined rental income of c. £0.32m per annum. The site was acquired at an independent valuation determined by Savills on behalf of the PRS REIT.

As previously reported, Sigma currently has seven self-funded PRS sites under way at various stages of development. Once completed and let, they will deliver c. 282 new rental homes for a GDC of c. £69m and provide an estimated rental value of c. £4.1m per annum. The sites are in the North West, Midlands, South and in London. Five development sites are under forward contract for acquisition by the PRS REIT once completed and fully let, with the two London sites designated for the Greater London Joint Venture with EQT Real Estate. 

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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).