PRS REIT PLC (The) 4,000th new rental home completed (4285F)
16 Julio 2021 - 1:00AM
UK Regulatory
TIDMPRSR
RNS Number : 4285F
PRS REIT PLC (The)
16 July 2021
16 July 2021
PRSR.L
The PRS REIT plc
("PRS REIT" or "the Company")
4,000(th) new rental home completed
The PRS REIT, the closed-ended real estate investment trust
established to invest in new-build homes for the Private Rented
Sector ("PRS"), is delighted to announce the completion of the
4,000(th) new rental home for its portfolio, which the Company
believes is the largest build-to-rent single family rental
portfolio in the UK.
The completion of the 4,000(th) home marks the latest major
milestone in the PRS REIT's development, and takes the total
estimated rental value ("ERV") of its portfolio to approximately
GBP37.7m. At 30 June 2021, 1,096 additional homes, at varying
stages of development, were under way for the PRS REIT, as the
Company progresses towards its initial target of approximately
5,200 high-quality homes, with an ERV of approximately GBP50.0m per
annum.
The Company's 4,000(th) home is a three-bedroom house at its
Duttonfields development on Deeside, close to Chester. It is part
of a development of 99 high-quality family homes, with an ERV of
approximately GBP870,000 per annum. The house is let under the
'Simple Life' rental brand, and, in common with other PRS REIT
sites, is located close to transport links, good primary schooling
and local amenities.
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."
For further information, please contact:
The PRS REIT plc Tel: 020 3178 6378 (c/o KTZ Communications)
Steve Smith, Non-executive Chairman
Sigma PRS Management Limited Tel: 0333 999 9926
Graham Barnet, Mike McGill
Singer Capital Markets Tel: 020 7496 3000
James Maxwell, Hannah Woodley,
Sebastian Burke
G10 Capital Limited (part of the Tel: 020 3745 2826
IQEQ Group as AIFM)
Paul Turner
KTZ Communications Tel: 020 3178 6378
Katie Tzouliadis, Dan Mahoney
NOTES TO EDITORS
About The PRS REIT plc
( www.theprsreit.com )
The PRS REIT is a closed-ended real estate investment trust
established to invest in the Private Rented Sector ("PRS") and to
provide shareholders with an attractive level of income together
with the potential for capital and income growth. It has 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
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. It 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. Its 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).
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