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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Sigma Capital Group Plc | LSE:SGM | London | Ordinary Share | GB0004225073 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 202.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMSGM
RNS Number : 5283L
Sigma Capital Group PLC
20 April 2018
20 April 2018
AIM: SGM
SIGMA CAPITAL GROUP PLC
("Sigma" or the "Company")
The private rented sector ("PRS") and urban regeneration specialist
Acquisition of PRS Development Sites
Sigma, the PRS, residential development and urban regeneration specialist, is pleased to announce the acquisition of three PRS development sites in the new financial year to date. The three sites, which are located in the North West and West Midlands, are expected to deliver an additional 214 new rental homes at a total gross development cost ("GDC") of c. GBP31.0m.
The acquisitions are in line with Sigma's strategy of self-funding PRS development sites, with The PRS REIT plc ("PRS REIT") retaining exclusive access to acquire completed sites. The three sites will be developed through Sigma's PRS delivery platform, with Countryside Properties undertaking construction. Construction is expected to be completed in 2019.
In addition to these three newly acquired sites, Sigma has four sites currently under construction for the PRS REIT's initial acquisition portfolio with a GDC of c. GBP38.0m. These are expected to be acquired by the PRS REIT by the end of 2018. A further four sites were completed and sold to the PRS REIT in 2017 for GBP31.7m.
Sigma expects to make additional site acquisitions in 2018, with the development sites providing the Group with rental income from completed homes during the delivery phase until the ultimate sale of the completed site.
Graham Barnet, CEO of Sigma Capital Group, commented:
"We are very pleased to be announcing our acquisition of three additional sites, which will deliver a combined 214 new rental homes in the North West and West Midlands. These new homes are being delivered through our PRS platform, with Countryside Properties undertaking construction, and all homes are expected to be completed during 2019. The completed sites are designed exclusively for the PRS REIT, with our new homes built with the needs of families foremost in mind.
"We expect to make further acquisitions in 2018 as we continue, with our partners, to drive the large scale construction of new rental homes across England."
Enquiries:
Sigma Capital Group Graham Barnet, Chief T: 020 3178 6378 (today) plc Executive Malcolm Briselden, T: 0333 999 9926 Finance Director KTZ Communications Katie Tzouliadis, T: 020 3178 6378 Irene Bermont-Penn, Emma Pearson N+1 Singer James Maxwell, Liz T: 020 7496 3000 (NOMAD and Broker) Yong, Michael Taylor
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. In its Initial Public Offering, on 31 May 2017, the Company raised GBP250m gross equity capital and, on 20 February 2018, it raised a further GBP250m (gross) through an additional placing. Both fundraisings were supported by the UK Government's Homes England with direct investments totaling c. GBP30m.
This information is provided by RNS
The company news service from the London Stock Exchange
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April 20, 2018 02:00 ET (06:00 GMT)
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