Urban regeneration specialist Sigma Capital is the latest firm to announce it is entering the Build To Rent sector, seeking to construct and manage its own private rental properties.
The company has raised £20m through a placing of shares and says it wants to “build its own substantial portfolio of PRS [Build To Rent] assets”
With the borrowing that the £20m will facilitate Sigma expects to deliver approximately £50m of gross development cost in the first 18 to 24 months through building family homes across up to eight sites, with early schemes in the Greater Manchester and Liverpool areas.
Construction will start early next year and ultimately the homes are forecast to produce net income in excess of £2m per annum and an indicative £13m of capital uplift.
Sigma is already working with Gatehouse bank and developer Countryside Properties on a 927-unit Build To Rent scheme in the north west of England.
%20-%20IMAGE%20Client%20Accounting%20%E2%80%93%20what%20are%20your%20options.jpg)
.png)
Join the conversation
Be the first to comment (please use the comment box below)
Please login to comment