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A range of 2 to 4 bedroom houses will be provided over 10 sites ranging in size from c.40 to 140 dwellings. These include a further phase at Norris Green Village in Liverpool and a new development, Heyfields, at Walkden in Salford to create mixed-tenure communities. All the homes are expected to be completed by 2019.
This agreement follows the successful initial agreement between the partners in December 2014 which provided for the delivery of 927 new homes for Private Rent. So far 374 homes have been completed with the remainder anticipated by September 2016.
Ian Sutcliffe, Group Chief Executive of Countryside said: “We are very pleased to be extending the successful relationship with our partners Sigma and Gatehouse Bank. In addition to providing new Private Rented homes this agreement also includes plans for several mixed tenure developments, drawing on the strength of our Partnerships division and its 30 years’ experience in urban regeneration.”
Graham Barnet, Chief Executive of Sigma Capital plc said: “We are delighted to announce this further agreement with Countryside, which strengthens Sigma and its partners’ position at the forefront of Private Rental housing development in the UK. The second phase of our collaboration with Gatehouse Bank is part of our wider objective to create a £1bn portfolio of rental homes across the UK over the next four years.”
Abdulaziz AlDuweesh, Chief Investment Officer of Gatehouse Bank Plc said: “We are delighted to continue our investment programme in the Private Rented Homes Sector with Countryside and Sigma. Just over a year ago we invested in the first phase of development of over £100m in 900 new build homes. Now we are delighted to continue working with Countryside and Sigma again to extend the investment in this sector with another 900 new build homes as part of a wider investment programme.”
About Sigma Capital Group plc
Sigma is a PRS, residential development, and urban regeneration specialist, with offices in Manchester, London and Edinburgh. Sigma's principal focus is on the delivery of large scale housing schemes, initially for the Private Rented Sector. It has a well-established track record in assisting with property-related regeneration projects in the public sector, acting as a bridge between the public and private sectors. www.sigmacapital.co.uk
About Gatehouse Bank plc
Gatehouse Bank plc is an investment bank based in the City of London, authorised by the Prudential Regulation Authority (PRA) and regulated by the PRA and the Financial Conduct Authority. Founded in 2008, Gatehouse has divisions in Real Estate Investment, Real Estate Finance, Treasury, and Wealth Management services. Gatehouse advises funds with approximately $1.5 billion of assets in the United States and United Kingdom. www.gatehousebank.com
Image of earlier phase of Norris Green Village, Liverpool