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.

Your Comments

Read our comments policy here

Sigma funded homes look very, shall we say, austere? Probably a great investment though.

By A builder