Sigma Capital has acquired 3 sites in the North West and West Midlands. Countryside Properties will build 214 privaterented sector (“PRS”) homes at a c.£31m total gross development cost (“GDC”). Once completed and let, we expect that these will be acquired by The PRS REIT and for Sigma to recycle the capital into additional development, capturing a development profit as well as some rental income. We make no changes to our forecasts ahead of final results expected next week. We highlight a curre ....
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Acquires 3 sites on which 214 PRS homes to be built for REIT
- Published:
20 Apr 2018 -
Author:
Andrew Watson -
Pages:
3
Sigma Capital has acquired 3 sites in the North West and West Midlands. Countryside Properties will build 214 privaterented sector (“PRS”) homes at a c.£31m total gross development cost (“GDC”). Once completed and let, we expect that these will be acquired by The PRS REIT and for Sigma to recycle the capital into additional development, capturing a development profit as well as some rental income. We make no changes to our forecasts ahead of final results expected next week. We highlight a curre ....