Sigma Capital Group PLC 2,000th home let for the Private Rented Sector

TIDMSGM

Sigma Capital Group PLC

26 July 2018

26 July 2018

AIM: SGM

SIGMA CAPITAL GROUP PLC

("Sigma" or the "Group" or the "Company")

The private rented sector and urban regeneration specialist

2,000(th) home let for the Private Rented Sector

Sigma, the PRS, residential development and urban regeneration specialist, is delighted to announce the letting of its 2,000(th) home for the private rented sector ("PRS"). This is from a standing start in November 2014 when Sigma's PRS activities formally commenced via its PRS Platform.

The milestone underlines Sigma's position as a leader in the delivery of new PRS homes, with the Company focused on family housing, an undersupplied and growing part of the UK housing sector.

The 2,000(th) home is located in Middleton, Greater Manchester, and is part of a development of 110 two, three and four bedroom houses. The site is conveniently located near key transport links and is close to a number of good primary schools. Countryside Properties Plc, a key partner in Sigma's PRS Platform, is currently in the process of completing the scheme. The homes are being let under Sigma's 'Simple Life' brand.

The majority of the 2,000 let homes were constructed for Sigma's early PRS partners, Gatehouse Bank and UK PRS Properties. Sigma's PRS Platform is now principally being deployed in support of The PRS REIT plc, which was launched in May 2017 and is investing c.GBP900m, including expected gearing, in establishing a nationwide portfolio of high quality, new-build rental homes, across the major conurbations of England, with the homes geared towards middle-income families. Currently, over 1,300 homes are under construction for The PRS REIT plc, with c. GBP437m committed to additional development sites, as previously announced.

Graham Barnet, Chief Executive, of Sigma, commented:

"I am delighted to report the letting of our 2,000(th) home for the private rental sector. We launched our PRS Platform some three and a half years ago, with the support of our partners, and it is very encouraging to have reached this milestone.

"We are focusing our efforts on delivering desirable, professionally managed homes for middle-income tenants, young couples and families. The need for families to have access to good quality rental stock is increasing dramatically in the UK. Currently there is a significant shortfall across all housing tenures, with recent research suggesting that some 340,000 new homes need to be built every year until 2031 to meet current and future demand.

"Our model plays a part in addressing these housing issues, and, with our partners, we look forward to assisting in the delivery of many thousands of new homes."

Enquiries:

 
Sigma Capital Group    Graham Barnet, Chief Executive         T: 020 3178 6378 
 plc                                                           (today) 
                       Malcolm Briselden, Finance Director    T: 0333 999 9926 
 
KTZ Communications     Katie Tzouliadis, Emma Pearson         T: 020 3178 6378 
 
N+1 Singer             James Maxwell, Liz Yong                T: 020 7496 3000 
 (NOMAD and Broker) 
 

NOTES TO EDITORS

About Sigma Capital Group plc

(www.sigmacapital.co.uk)

Sigma Capital Group plc is a private rented sector, 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 the Company's Investment Adviser. It sources investments and manages the assets of The PRS REIT plc and advises the Alternative Investment Fund Manager ("AIFM") and the PRS REIT on a day-to-day basis in accordance with the PRS REIT's Investment Policy. The Investment Adviser is an appointed representative (reference number: 776293) of the AIFM.

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 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.

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 [e-mail] or visit www.rns.com.

END

NRABBGDRCDDBGIU

(END) Dow Jones Newswires

July 26, 2018 02:02 ET (06:02 GMT)