HCA to fund Sigma’s PRS roll-out
Sigma has secured a £45m credit line with the Homes & Communities Agency to deliver rental homes.
The company expects the new facility to support a portfolio with a total gross development cost in excess of £60m.
Sigma said in a statement: “The agreement forms part of the HCA and Government’s objective of making more homes available across England. Sigma’s private rented sector platform, comprising building, letting and funding partners, was a key component in reaching this agreement since it enables the delivery of new homes at scale and at a faster rate than is typical for a market-to-sale build.”
Sigma has delivered a total approximately 800 new family homes for rent through its managed or self-funded activities, since construction started in November 2014. A further 1,300 new rental properties are currently at various stages of the construction process.