TIDMSGM
RNS Number : 4279F
Sigma Capital Group PLC
16 July 2021
16 July 2021
AIM: SGM
Sigma Capital Group plc
("Sigma")
The private rented sector ("PRS") and urban regeneration
specialist
4,000(th) new rental home delivered for The PRS REIT plc
Sigma, the private rented sector, residential development and
urban regeneration specialist, is pleased to announce that it has
delivered the 4,000(th) rental home for The PRS REIT plc ("REIT" or
"PRS REIT"), cementing Sigma's position as the leading operator in
the delivery of new-build single family rental homes in the UK.
The delivery, effected through Sigma's PRS property platform,
takes the total estimated rental value ("ERV") of the PRS REIT's
portfolio to approximately GBP37.7m per annum. As at 30 June 2021,
1,096 additional homes were at various stages of development, as
delivery approaches the PRS REIT's initial target of 5,200 homes
with an ERV of approximately GBP50.0m per annum.
The 4,000th home is a three-bedroom house at the Duttonfields
development on Deeside, close to Chester. It is part of a scheme of
99 high-quality family homes, with an ERV of approximately
GBP870,000 per annum. The house is let under Sigma's award-winning
'Simple Life' rental brand, and, in common with other PRS REIT
sites, is located close to transport links, good primary schooling
and local amenities.
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 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.
Graham Barnet, CEO of Sigma Capital Group plc, said:
"The delivery of The PRS REIT's 4,000(th) rental home marks
another significant milestone as we approach the REIT's initial
target of 5,200 homes. It also underlines Sigma's position as the
leading delivery provider of new-build family rental homes in the
UK. With over 1,000 further homes under way, we look forward to
reaching the REIT's target by early 2022."
Steve Smith, Chairman of The PRS REIT plc, said:
"I am delighted that The PRS REIT plc's portfolio now stands at
4,000 new homes - the largest build-to-rent single family rental
portfolio in the UK. There is huge demand for our high-quality,
professionally-managed family rental homes, and we are pleased to
be creating new homes across the regions that help to fulfil a
critically underserved segment of the UK population."
Enquiries:
Sigma Capital Group Graham Barnet, Chief Executive T: 020 3178 6378
plc (today)
Mike McGill, Group Chief Financial T: 0333 999 9926
Officer
KTZ Communications Katie Tzouliadis, Dan Mahoney T: 020 3178 6378
Singer Capital James Maxwell, Hannah Woodley, T: 020 7496 3000
Markets Sebastian Burke
(NOMAD and broker)
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
GBP0.9bn in a portfolio of high quality homes for private rental
across the regions, having raised a total of GBP500m (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
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