Leading build-to-rent provider Sigma Capital Group Limited has announced plans to deliver 865 new homes across 11 sites around the UK, in partnership with housebuilder Countryside Partnerships, one of the country’s leading mixed-tenure developers,
The homes will be marketed under Sigma’s private build-to-rent brand Simple Life and these latest acquisitions will significantly accelerate the growth of Sigma Capital’s UK portfolio.
Under Simple Life, Sigma has delivered over 5,000 rental homes, and has over 3,000 more under construction across the UK. The 11 new sites are part of Sigma’s growth plans to scale up and deliver homes in existing and new regions, particularly in the south and the north east. The company has ambitious targets set to reach £3bn in regional investment over five years, and the news of the acquisition of these new sites comes just three months after Sigma announced four senior hires across the asset management and development teams.
The 11 sites collectively represent an investment of over £205m, and stretch across six UK regions, with first handovers for all developments expected to take place across 2023 and 2024.
There will be three new developments in the north east, located in Stockton-on-Tees, Sunderland and Gateshead, consisting of 279 homes in total. One site in the north west, The Fairways, will be made up of 138 units, in an area where Simple Life has a track record of building vibrant communities. A 40 unit development will be delivered in Lincoln, and a 75 unit site is being built in Hemel Hempstead. Sigma Capital is also set to step up construction in the midlands, with three sites consisting of 146 homes. Finally, two sites will be located in south west; with 87 units in Highbridge, and 100 units in Bridgwater. The latter, Strawberry Grange, is a triple tenure site and marks the first Simple Life site in the South West.
Jason Berry, Regional Managing Director at Sigma Capital, says: “We’re excited to embark on our latest venture with Countryside Partnerships to bring more high-quality homes forward in new sustainable communities across the UK.
“It’s our ambition across all of our projects to lead the way for the rental sector, providing communities with a better standard of rental and a professional service for families across the UK, which we know is an underserved sector in these challenging times. Earlier this year, we did some research into the energy efficiency of our homes, and we found that they are 25% cheaper to run in comparison to properties built between 2007-2011 – so our residents are saving money on their energy bills too.”
Stephen Teagle, Chief Executive, Countryside Partnerships, said: “The addition of build-to-rent homes across 11 of our schemes will go a significant way to help to meet the increasing demand for quality rental homes where demand is outstripping supply. The scale of the deal is testament to the strength of our long-term partnership with Sigma and of Countryside Partnerships’ continuing commitment to building sustainable, mixed tenure communities at scale, working in partnership to respond to the housing crisis.”
The first homes will be released to let in March 2023.