Sigma, the private rented sector (“PRS”) and regeneration specialist, is pleased to announce that it has acquired the final phase of the Norris Green Village regeneration scheme for £1.925m in cash, with the 15 acre site having received planning permission for 269 new homes.
Under this final phase, Sigma will deliver 200 market-for-sale homes and 69 private rented sector units, with these PRS units forming part of Sigma’s PRS delivery under its joint venture with Gatehouse Bank plc. The market-for-sale homes will be built and developed by Sigma’s housing development partner, Countryside Properties, with completion expected by the end of 2019.
Countryside Properties will also act as Sigma’s construction partner for the PRS units, with all the new homes expected to be available for rental by the end of 2016.
This final phase, which is being delivered under Sigma’s Regeneration Liverpool partnership with Liverpool City Council, brings the total number of new homes that Sigma will deliver at Norris Green Village to 829 units. This total comprises 394 market-for-sale homes, 214 new social homes and 221 PRS units. Other regeneration projects remain under option through Sigma’s partnership with Liverpool City Council.
Graham Barnet, Chief Executive of Sigma, commented:
“We are delighted to be commencing the final phase of new housing at Norris Green Village under our Regeneration Liverpool partnership with Liverpool City Council. This final phase will bring another 269 high quality new homes to the area and we expect construction to be fully completed by 2019.
Once this is achieved, Sigma, with its partners, will have delivered 829 new homes at Norris Green, across a mix of tenures, including market for sales, private rental, affordable and social housing. It has been important to build homes that residents find attractive and which will contribute to the ongoing regeneration of the area. We look forward to continuing both our PRS and regeneration activities across the wider region.”
Ann O’Byrne, Deputy Mayor of Liverpool, said:
“The regeneration of Norris Green, which began in 2010, remains a priority for us, and our commitment to making Norris Green a great place to live, with high quality new homes, remains as high as ever. Sigma has been a valued and active partner in assisting us as we progress our goal to deliver 5,000 new homes across Liverpool, and create jobs and opportunities for local people.”