TIDMPRSR
PRS REIT PLC (The)
16 June 2020
16 June 2020
PRSR.L
The PRS REIT plc
("PRS REIT" or "the Company")
Portfolio reaches milestone of 2,000(th) new rental home
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
2,000(th) home for its portfolio.
Originally on track to be completed at the end of March, until
the coronavirus crisis caused construction activity to be
suspended, the new home is a milestone that marks the PRS REIT's
increasing presence in the UK as a leading provider of new
high-quality, family rental homes. This market is one of the most
undersupplied sectors of the UK housing market.
The Company's 2,000(th) home is a three-bedroom house at its
Abbotsfield development in St Helens, Merseyside, and is part of a
development of 102 high-quality family homes. As with all of the
PRS REIT's sites, the development is well-located, close to good
primary schooling and local amenities as well as to transport
links. It is let under the 'Simple Life' rental brand.
A further c.2,900 homes are currently at various stages of
development for the PRS REIT across the English regions, including
in the North West, Midlands, Yorkshire, North East and South.
Sigma PRS Management Limited, part of Sigma Capital Group plc
("Sigma"), is Investment Adviser to the PRS REIT, and responsible
for sourcing and securing suitable development sites, overseeing
the planning and construction processes, and managing assets. Homes
are delivered through Sigma's property platform, which comprises
relationships with housebuilding partners, local authorities and
Homes England. The platform allows for rapid progress, and
completed properties are managed through Sigma's rental brand,
"Simple Life". The PRS REIT retains the right of first refusal over
sites in the platform.
Steve Smith, Chairman of the PRS REIT, said:
"I am delighted that the PRS REIT has completed its 2,000(th)
new home. We have reached this milestone in just under three years
and a further 2,900 family rental homes are at various stages of
development across the regions of England.
"There is a critical need for quality rental homes for families,
and we look forward to continuing to play our part in meeting
demand for this important but highly underserved sector of the
housing market."
Graham Barnet, CEO of Sigma Capital Group plc, said:
"We are very pleased to have delivered the PRS REIT's 2,000(th)
home in just three years. The pace at which we have been able to
deliver new homes reflects the effectiveness of our property
platform, which brings together both land and construction
resource. Our key partners include Countryside Properties, as well
as local authorities and Homes England, and we currently have
around 2,900 further homes under way for the PRS REIT."
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
N+1 Singer Tel: 020 7496 3000
James Maxwell, James Moat, Ben
Farrow
G10 Capital Limited (part of the Tel: 020 3696 1302
IQEQ Group as AIFM)
Gerhard Grueter
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).
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
NRADELFFBQLZBBQ
(END) Dow Jones Newswires
June 16, 2020 02:00 ET (06:00 GMT)
Prs Reit (LSE:PRSR)
Gráfica de Acción Histórica
De Mar 2024 a Abr 2024
Prs Reit (LSE:PRSR)
Gráfica de Acción Histórica
De Abr 2023 a Abr 2024
