SHARES in Sigma Capital, the Aim-quoted investment vehicle in which Sir Tom Hunter holds a 22 per cent stake, jumped 18 per cent after the Edinburgh-based property firm signed a deal to build houses in Liverpool.
Sigma has formed a joint venture with house builder Countryside Properties to construct homes as part of the group’s £100 million regeneration work with Liverpool City Council.
In their first project together, Countryside and Sigma will build 63 three- and four-bedroom houses at Norris Green Village, a 63-acre site located five miles from the city centre.
Under its deal with the local authority, Sigma will receive about £220,000 in fees, with £120,000 being paid over the next 18 month and the balance when the project is completed.
Graham Barnet, chief executive of Sigma, said: “This third phase of development represents further significant momentum in the redevelopment of Norris Green Village and is testament to the renewed confidence in the area that is reflected so positively in the form of new house sales.
“We look forward to continuing our relationship with Liverpool City Council and helping to realise the council’s regeneration goal for the area.”
Sigma has already built 115 homes at Norris Green Village in partnership with the council.
The company’s joint venture with Countryside is its second in the city. Under a deal signed last year, Neptune is developing commercial sites in Liverpool.
Shares in Sigma closed up 1.62p at 10.38p, valuing the company at £5.1m and Hunter’s stake at just over £1m.