Sigma Capital, through its asset-backed vehicle with Liverpool City Council, is on site delivering 200 new homes including 64 private rented units at the former Queen Mary school site in Fazakerley.
The private rented element will be delivered by Sigma's joint venture with Gatehouse Bank; the total development cost of these units is £6.7m. The remaining 136 homes will be built for private sale, with development being undertaken by Countryside Sigma, the joint venture with Countryside Properties. A mix of two-, three- and four-bedroom homes is planned across the site and construction is expected to be completed over 36 months. The rental element will be delivered at a rate of approximately 10 units per month, with all rental units expected to be completed by the end of 2015.
Sigma, via Regeneration Liverpool, is working with Liverpool City Council to help the council deliver the Mayoral target of 5,000 new homes for the city by 2016. Regeneration Liverpool is also currently in the process of regenerating key development sites throughout Merseyside, including Norris Green and Stonebridge Cross, Croxteth.
Sigma's PRS joint venture with Gatehouse has started construction of an initial phase of 927 new rental homes across the North West with a total development cost of approximately £100m, one of the first large PRS programmes in the UK.