Sigma Capital Group, the Edinburgh-based urban regeneration and private rental specialist, has announced the letting of its 2,000th home for the private rented sector.
The firm, which is behind a number of projects south of the Border, as well as a dedicated investment trust, said the milestone underlined its position as “a leader in the delivery of new private rented sector (PRS) homes”.
The 2,000th home is located in Middleton, Greater Manchester, and is part of a development of 110 two, three and four-bedroom properties.
Sigma chief executive Graham Barnet said: “We launched our PRS platform some three-and-a-half years ago, with the support of our partners, and it is very encouraging to have reached this milestone.
“We are focusing our efforts on delivering desirable, professionally managed homes for middle-income tenants, young couples and families.
“The need for families to have access to good quality rental stock is increasing dramatically in the UK. Currently there is a significant shortfall across all housing tenures, with recent research suggesting that some 340,000 new homes need to be built every year until 2031 to meet current and future demand.
“Our model plays a part in addressing these housing issues, and, with our partners, we look forward to assisting in the delivery of many thousands of new homes.”
The firm’s PRS platform is now mainly being deployed in support of the PRS Reit (real estate investment trust), which was launched in May 2017 and is investing some £900 million in establishing a nationwide portfolio of new-build rental homes across the major conurbations of England.
Some 1,300 homes are under construction for the trust.