Sigma moves into London BTR
Sigma Capital has expanded its build-to-rent development to London with the acquisition of two sites in Havering and Barking.
It has acquired an 80-home development at the £1bn Beam Park regeneration (pictured) that will complete at the end of next year. In Barking town centre, it has also acquired 77 homes at Fresh Wharf, which are expected to complete by spring 2021.
The two schemes were acquired from its partner Countryside Properties and have a development cost of £43.8m. The homes will be operated by Sigma’s Simple Life platform.
Sigma Capital has expanded its build-to-rent development to London with the acquisition of two sites in Havering and Barking.
It has acquired an 80-home development at the £1bn Beam Park regeneration (pictured) that will complete at the end of next year. In Barking town centre, it has also acquired 77 homes at Fresh Wharf, which are expected to complete by spring 2021.
The two schemes were acquired from its partner Countryside Properties and have a development cost of £43.8m. The homes will be operated by Sigma’s Simple Life platform.
Graham Barnet, chief executive of Sigma Capital Group, said: “The move into London means that Sigma’s property delivery platform now reaches across most of the mainland UK, providing us with significantly increased development opportunities. It also takes our letting brand, Simple Life, into the London market.”
Ian Sutcliffe, group chief executive at Countryside Properties, added: “We anticipate continuing growth from our relationship with Sigma in London and beyond.”
Countryside and Sigma have delivered more than 4,000 homes over the past five years, providing mixed-used tenures on large regeneration sites. Sigma’s move into the capital follows its recent launch in Scotland in collaboration with housebuilder Springfield Properties.
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