Sigma capital group has entered into a partnership with Keepmoat Limited to deliver 5,000 new private rented sector (PRS) homes across England by 2021.
The partnership will build two-, three- and four-bedroom properties in locations across North East, Yorkshire and the East Midlands, entailing a potential investment of about £800M.
Sigma will manage investment and lettings, while Keepmoat will procure the land and take the lead on the design, planning and building processes.
Graham Barnet, chief executive of Sigma, said: “I am delighted to announce our partnership with Keepmoat, which has grown out of our previous relationship with them, and our continued expansion in the PRS sector.
“We are very pleased that Keepmoat has chosen to work with Sigma in its first development activity in the PRS market, and believe that it underscores Sigma’s success in the PRS sector.”
Keepmoat’s chief executive Dave Sheridan said: “This is a significant milestone for our business, and we are proud to be working alongside Sigma to scale-up their PRS growth ambitions.
“The partnership will deliver great quality market rented homes alongside our Keepmoat homes for sale, which will allow the pace of housing delivery on strategic sites to be increased, to deliver the Government’s aspirations and provide people across the country with much-needed housing options. There is an inherent need for more housing across the country, and we are looking to tackle the issue head on.”
* Data provided by Timetric's Construction Intelligence Center.