Capital's Sigma extends Countryside deal

Sigma Capital Group, the Edinburgh-based urban regeneration and private rental specialist, has extended its strategic tie-up with Countryside Properties.

CEO Graham Barnet: structural shortage of housing in UK. Picture: Paul Dodds

Under the framework agreement, the firm will target the delivery of a further 5,000 private rented sector (PRS) homes over the next three years – over and above those already built or in the process of being constructed.

Sigma’s relationship with Countryside is well-established, with the latter an early partner in the Scottish firm’s PRS delivery platform. In December 2014, an initial agreement was signed with Countryside for the delivery of 927 homes – extended to include a further 900 homes in February 2016.

During the year to 30 September 2017, Countryside delivered 721 PRS homes for Sigma across the north-west of England and the West Midlands.

Sigma said that the new agreement “significantly enhances” its relationship with Countryside and supports the growth ambitions of both companies.

Graham Barnet, chief executive of Sigma, said: “There is a structural shortage of housing in the UK, across all tenures, and our unrivalled delivery platform brings together local authorities, home builders and funders with the common aim of creating new, professionally-managed rental homes for families – a largely neglected and growing part of the overall rental market.”

In April, Sigma revealed a full-year profit before tax of £4.06 million, up from £3.67m a year earlier.