PRS REIT Aerial

Sigma and Countryside target 5,000 PRS homes

Private-rented specialist Sigma Capital and housebuilder Countryside have agreed a deal to deliver 5,000 homes over the next three years.

Sigma and Countryside have been working together since December 2014 when an initial agreement was signed to deliver nearly 930 homes. In February 2016, this deal was extended to add another 900 homes, and during the 12 months to 30 September 2017, the housebuilder delivered more than 700 homes for Sigma across the North West and the West Midlands.

Now, the two parties have agreed a deal to build a further 5,000 homes over the next three years, in addition to the schemes Sigma and Countryside have on-site or in the planning process.

Sigma said the partnership would allow it to “map out continuing expansion with significantly greater clarity,” while it would also see Countryside deliver homes more quickly on larger, mixed-tenure sites.

Projects the partners are currently working on include a 140-home development in Prescot as part of the wider regeneration of the Prysmian Cables site; and at Tower Hill in Kirkby, where Countryside will deliver 87 of its planned 158 homes as private-rented accommodation for Sigma.

Sigma also announced the purchase of two sites last week, in Prescot and Newton-le-Willows, where Countryside will deliver a combined 238 homes.

Graham Barnet, chief executive of Sigma, said: “There is a structural shortage of housing in the UK, across all tenures, and our unrivalled delivery platform brings together local authorities, home builders and funders with the common aim of creating new, professionally-managed rental homes for families, a largely neglected and growing part of the overall rental market.”

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