Sigma Capital Share Discussion Threads

[paleje] 18/5/2015 14:25

IC ran a piece on Grainger today supporting your post riddlerone, this is from it:-

...Crucially, Grainger is soon to start feeling the benefit of recent investments, notably a build-to-rent scheme in Barking. Furthermore, there is a secured pipeline of over 1,000 rented units, which will add nearly 40 per cent to the UK rented portfolio in the next two years. Beyond the secured pipeline, there are number of projects at an advanced stage that could add a further 950 rented units. Added together, these could double the number of UK rented units.

Triple net asset value's slight decline reflected the effect of one-off costs, but doesn't factor in Grainger's reversionary surplus - the uplift from market value of its properties to vacant possession value, which will be realised as its tenants pass away. Grainger reckons the uplift could be £500m or 120p a share.

Analysts at Numis are forecasting net asset value per share by the September year-end of 251p.

IC VIEW:
Grainger's significant pipeline and growing demand for rented accommodation bode well for further growth. The shares are well up from our buy tip (Buy, 136p 28 February 2013), but still trade at a significant discount to forecast NAV. Buy.

[riddlerone] 14/5/2015 07:17

From Grainger's Interims today
Our Pipeline of Projects in Advances Stages could deliver a further c.950 market rented units. These projects are not yet secured and a number of them are in final stages of negotiation. We will provide further detail of these in due course. Two projects within this pipeline, which have been previously disclosed, are:

§ Our partnership with Sigma Capital Group, where they provide procurement and development management expertise, is exploring regional build to rent opportunities; a number of sites are being reviewed and we are in advanced talks on an opportunity in the North West which would deliver c.150 units.

[riddlerone] 12/5/2015 16:06

Something is stirring,look at the amount of new sites added to Norris Grn and New Broughhton

[riddlerone] 11/5/2015 14:06

Grainger's results out later this week,I wonder if we might hear any more about this
" Sigma has created a significant pipeline of opportunity through its local authority relationships and house building partners, which can be utilised over the course of the relationship with Grainger.

Grainger will appraise each development opportunity individually and we are in the process of delivering the first site with a gross development cost in excess of GBP18m. A number of further sites have already been identified which we are looking to progress with Grainger"

[riddlerone] 29/4/2015 09:46

Well what's youre thoughts on these results?
My view is very solid progress,ahead of targets on construction and more visibility for the rest of this year and beyond.

[riddlerone] 28/4/2015 17:12

Stand by your beds guys,results out tomorrow 1st thing

[riddlerone] 24/4/2015 07:39

More food for thought,this was stated on the commencement of construction RNS

"Further phases

Sigma is also exploring with Gatehouse efficient financial structures for the delivery of further phases of new homes."

I also noticed this headline today(which i cannot access in total due to subscription)by SCI

then looked at this

hxxp://www.globalcapital.com/article/pz323ntf68l3/gatehouse-markets-shariah-compliant-cmbs
I wonder if this is the way they intend to finance future phases,Any thoughts guys?

[riddlerone] 23/4/2015 09:21

Just been checking progress on the two reported sites.Take a look at these pages and mostly all of the Properties hosted by Century 21 Halifax are Sigma/Gatehouse sites in Salford.There are a lot that are due to be finished over the next 3 months that have already been let in advance.Lets hope we get some news soon to back up the progress
hxxp://www.rightmove.co.uk/property-to-rent/find.html?locationIdentifier=POSTCODE%5E4160078&radius=0.25&propertyStatus=all&includeLetAgreed=true&;_includeLetAgreed=on&index=10

[riddlerone] 24/3/2015 08:39

Nice to see ongoing support from Hendersons.I wonder what is happening with this?


Agreement to acquire first site in London for

Private Rented Sector Portfolio

Sigma, the residential and urban regeneration specialist, is pleased to announce that it has agreed terms to acquire its first London site for its private rented sector ("PRS") residential portfolio. The site is earmarked for 318 new homes and is located within the Barking Riverside development in east London, which is a 443 acre site with outline planning permission for one of the largest residential regeneration schemes in the UK.

Sigma has signed Heads of Terms, with an exclusivity period which runs until 31 March 2015, that allows Sigma or its funding partners to acquire the site and develop four new apartment blocks comprising a total of 318 apartment homes, including a high percentage of three bedroom family units. The overall delivery cost of the site, construction costs and associated costs are estimated to be in excess of GBP50 million. The agreement has been signed with Barking Riverside Ltd ("BRL"), a joint venture company between Greater London Authority and Bellway Homes plc, with BRL and Sigma undertaking to enter into a conditional contract by 31 May 2014.
Note the exclusivity period expires the end of March.

[riddlerone] 17/3/2015 06:57

If anyone is interested this will be the new website (still under construction)hxxp://www.livedifrent.com/

[riddlerone] 09/3/2015 09:08

hxxp://www.insidermedia.com/insider/north-west/135064-work-starts-200-homes-fazackerley

[riddlerone] 04/3/2015 12:18

hxxp://www.manchesterconfidential.co.uk/Property-and-Business/Sigma-Unveil-First-Of-927-New-Homes-In-Lower-Broughton

[riddlerone] 03/3/2015 07:43

This is a few weeks old but a really good read and very relevant to SGM
hxxp://realestate.ipe.com/analysis/capital-raising/affordability-issues-dominate-uk-housing-debate-bpf-conference/10006630.fullarticle

[riddlerone] 03/3/2015 07:07

So in total 218 houses according to this article already built and tenants moving in.

hxxp://www.placenorthwest.co.uk/news/archive/18049-sigma-prs-homes-launched-to-market.html

[riddlerone] 19/2/2015 07:48

Here's an interesting clip.Its not about Sigma but its about large investment coming out of the US and going into finance for build to let.This guy is also no fool look up his resume.The interesting part is at about 4.20 mins

[kooba] 13/2/2015 09:21

Think you have to look at it more as a fund management earnings stream type play as the portfolio model develops rather than a straight asset play.Big print not sure if a line is being cleared?

[stemis] 11/2/2015 11:23

Isn't this on rather a huge premium to NAV?

[paleje] 01/2/2015 16:10

Good article in today's Mail on Grainger, results later this week.

[riddlerone] 26/1/2015 08:11

Nice to have 0% exposure with this to the eurozone/Greece.

[riddlerone] 18/1/2015 12:18

I know this is over a month old but i wonder if the lack of news on any progress with this project has been due to waiting for the green light for the rail link
hxxp://www.building.co.uk/green-light-for-rail-link-to-unlock-bellway-barking-scheme/5072533.article

[red ninja] 08/1/2015 13:47

R,

Thanks for that.

Share price drifting.
I am contemplating a top up.