Sigma exclusivity agreement with the Sheffield Housing Company Limited

Exclusivity Agreement with the Sheffield Housing Company Limited for PRS sites in Sheffield.

Sigma, the PRS, residential and urban regeneration specialist, is pleased to announce that it has entered into an exclusivity agreement with the Sheffield Housing Company Limited (“SHC”) for the provision of new Private Rented Sector (“PRS”) homes in the city of Sheffield.

SHC is a long term partnership between Sheffield City Council, Keepmoat Limited, the regeneration specialist and developer, and Great Places Housing Group, the registered housing provider, to build in excess of 2,300 new homes across seven popular neighbourhoods in Sheffield. This agreement brings another major English city into Sigma’s pipeline for PRS and is in line with the Group’s objective of building a substantial PRS portfolio across multiple sites in the UK, focusing on the major cities outside London.

Under the terms of the agreement, Sigma and SHC will work together over the next three years to deliver two, three and four bedroom homes for private rent. These will be on either stand-alone PRS sites or on mixed tenure sites comprising PRS, ‘private for sale’ homes and affordable rental homes. The agreement is for an initial three year period extendable by agreement between the parties. Sigma is already working on the first site and is identifying further sites. Sigma will now commence discussions with the investors and partners in its existing PRS ventures for the homes to be delivered under this agreement.

Graham Barnet, Chief Executive of Sigma, said:

“Following the expansion of our PRS programme with Gatehouse to 10,000 new rental homes, I am delighted to be announcing this major agreement with Sheffield Housing Company Limited for the delivery of new PRS homes across Sheffield. Sheffield is England’s fourth largest city outside London and the agreement brings another key region to our PRS pipeline. We look forward to working with our new partner to help deliver the Council’s objective of creating new homes for families across Sheffield.”

“The agreement is another major step forward as we move ahead with our plans to establish, with our partners, one of the largest PRS platforms in the UK, focusing on the regions outside London.”

Tom Fenton, Project Director with Sheffield Housing Company, added:

“This is a high profile agreement with which we are proud to be associated. It should reap mutually acceptable benefits for both parties and provide further housing choices for the people of Sheffield for many years to come.”