Edinburgh’s Sigma Capital completes deals south of Border

Sigmacapitalgroup,theedinburgh-based urban regeneration and private rental specialist, has sealed the sale of one completed site and acquired two development sites.

The firm, whose shares are quoted on London’s junior Alternative Investment Market, said the completed private rented sector (PRS) site was located in Smethwick near Birmingham city centre and comprises 63 newly-completed family rental homes. It has been acquired by the PRS REIT (real estate investment trust), which is advised by Sigma.

The two new sites that Sigma has taken on are located in Nuneaton, in the West Midlands, and Harlow, Essex, and will respectively deliver 50 and 28 new family homes, with a combined estimated rental value of about £1.1 million per annum.

The PRS REIT has signed forward purchase agreements over both developments, with the sites expected to be acquired in the second half of 2019, once fully completed and let.

The site in Essex marks Sig- ma’s first acquisition in the southern region of England. Both sites are being developed by the company’s main construction partner, Countryside Properties.

Sigma, which is led by chief executive Graham Barnet, said it now had five active PRS sites currently under construction, which are expected to be purchased by the PRS REIT in due course. 0 Sigma Capital is led by chief executive Graham Barnet