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House builder and investor to deliver 5,000 new PRS homes
House builder Countryside is extending its deal with the investment fund Sigma to deliver 5,000 new homes in the private rented sector (PRS).
The two organisations have already worked together to deliver PRS homes, signing an initial agreement in December 2014 to build 927 homes.
This was expanded to include a further 900 homes in February 2016, but this new agreement – to build 5,000 homes over three years – is a more significant step in the partnership.
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Graham Barnet, chief executive of Sigma, said: “We are delighted to be extending our highly successful relationship with Countryside, one of the UK’s leading home builders, which regularly wins awards for its work.
“This major new agreement targets the delivery of 5,000 high-quality family homes across a number of regions over the next three years – over and above those already built or in process.”
Ian Sutcliffe, group chief executive of Countryside, added: “We have been a long-standing partner of Sigma and are delighted to continue working together.
“This new agreement supports the continued expansion of Countryside’s partnerships division and our mixed-tenure delivery model. It will allow us to speed up the delivery of homes more quickly on larger partnerships sites and meet the strong demand we are seeing for our product.”
Sigma is a prominent player in the PRS sector, managing the only real estate investment trust (REIT) in the sector, The PRS REIT.
Homes England, the government’s housing delivery agency, has shown confidence in the REIT by investing a total of £30m over its various fundraising periods.
