Sigma Capital buys new sites south of the Border

Sigma Capital Group, the Edinburgh-based urban regeneration and private rental specialist, plans to add some 200 homes after striking a deal to acquire a further three sites.

Sigma Capital chief Graham Barnet expects to make further deals. Picture: Paul Dodds

The firm, which is involved in a string of schemes south of the Border, said the addition of the sites in the West Midlands and the north west of England, took the total number of self-funded developments to seven.

The total gross development cost of the new homes, including land acquisition, amounts to about £27 million, it added.

Once the homes have been completed, Sigma’s own private rental sector portfolio will stand at some 420 units, located across Birmingham, Greater Manchester, Liverpool, Sheffield and Shropshire.

The firm now expects to acquire further sites, creating a self-funded portfolio with a gross development cost in excess of £60m.

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Graham Barnet, chief executive of Sigma, said: “We will be using our funding facility with the Homes & Communities Agency to deliver approximately 200 new rental homes across these sites, which are located in Birmingham, Telford and Atherton.

“These new rental homes are also helping to unlock the delivery of a wider development scheme which includes new market-for-sale and affordable homes.”

Barnet has previously said that an expansion into the Scottish market has not been ruled out.

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