Sigma Capital Group PLC First PRS development launches in Scotland (9613P)
February 23 2021 - 1:00AM
UK Regulatory
TIDMSGM
RNS Number : 9613P
Sigma Capital Group PLC
23 February 2021
23 February 2021
AIM: SGM
SIGMA CAPITAL GROUP PLC
("Sigma" or the "Company")
The private rented sector ("PRS") and urban regeneration
specialist
First PRS development launches in Scotland
Sigma, the PRS, residential development and urban regeneration
specialist, is pleased to announce the commencement of its first
PRS development in Scotland with Springfield Properties plc
("Springfield") as Strategic Delivery Partner. The site will be the
first development of single family homes for the private rented
sector in Scotland. It also marks the launch of Sigma's rental
brand, "Simple Life" in Scotland.
The site will comprise 75 family rental homes with a combined
estimated rental value of approximately GBP0.76m per annum. It is
part of a substantial , new standalone village development of
around 3,000 homes already well underway by Springfield at Bertha
Park , outside Perth on the Ruthvenfield Road. The gross
development cost of Sigma's site is GBP11.75m, including land
acquisition, and a s with Sigma's other PRS developments , it is
being delivered under a fixed-price 'design and build' contract.
Construction on the site is expected to commence in late March.
The new village development is designed with strong transport
links and community amenities. This includes a new ly-built
secondary school , Bertha Park High School, which has opened
recently. As the first Microsoft Flagship school in the UK and the
first new secondary school to be established in Scotland for more
than 15 years, it is expected to be a significant draw.
Sigma's new rental homes will be a mix of two, three and four
bedroom houses, terraced and semi-detached, and will be marketed
and managed under Sigma's "Simple Life" rental brand.
Graham Barnet, CEO of Sigma Capital Group plc, commented:
"We are delighted to be launching our first new-build rental
homes in Scotland, with this development site at Bertha Park, as
well as our Simple Life rental brand. Our strategic delivery
partner, Springfield Properties, is an award-winning house builder
and demand for its village developments is increasing. Bertha Park
Village offers larger homes with gardens, ample green space, and
community facilities, all within commuting distance of cities, and
we anticipate strong demand for our homes.
"There is a significant undersupply of quality rental homes in
Scotland and we look forward to continuing to deploy additional
resource in order to help meet this need."
Enquiries:
Sigma Capital Group Graham Barnet, Chief Executive T: 020 3178 6378 (today)
plc
Mike McGill, Group Chief Financial T: 0333 999 9926
Officer
KTZ Communications Katie Tzouliadis, Dan Mahoney T: 020 3178 6378
N+1 Singer James Maxwell, James Moat, T: 020 7496 3000
(NOMAD and Broker) Sebastian Burke
NOTES TO EDITORS
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. The Company 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.
Sigma has created an unrivalled PRS platform, which sources
sites and brings together construction resource to develop them,
enabling Sigma to deliver an integrated solution to partners. As
well as sourcing sites and managing all stages of the planning and
development process, Sigma also manages the rental of completed
homes through its award-winning rental brand, 'Simple Life'.
The Company's subsidiary, Sigma PRS Management Limited, is
Investment Adviser to The PRS REIT plc. In September 2020, the
Company launched a joint venture with EQT Real Estate, the real
estate platform of global investment firm EQT to establish a GBP1bn
portfolio of high quality, new-build homes for private rental in
Greater London.
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