Sigma Capital Group
Ready to deliver large-scale residential projects
17 December 2014
Fully re-focused on its property activities, Sigma’s plans for the roll-out of large-scale residential schemes in the private rented sector (PRS) have made important steps forward. Funding for the Gatehouse joint venture is complete, allowing construction of the first phase of 927 homes to begin. A partnership with Grainger plc has also been announced, granting Grainger first option on development opportunities on 100 or more PRS units. Sigma’s value resides, largely off balance sheet, in its access to a pipeline of urban regeneration projects via the current local authority JVs. With an estimated c £2bn gross development cost, these projects should be capable of delivering c £60m of revenues to Sigma, accelerated by PRS, which provides its investors with income and capital growth opportunities. MORE »
