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Galliford Try Partnerships agrees collaboration with Sigma on PRS scheme

Chase Park

Galliford Try Partnerships has entered into its first collaboration with Sigma Capital Group, a leading provider of large-scale family housing schemes for the private rented sector (PRS).

Partnerships is joining with Sigma to assist in the delivery of new, high-quality family homes for the private rental market and this project is seen as the first in a roll-out of a number of new opportunities which will include a focus on the West and South West of England. The regeneration specialist will use its expertise to source appropriate sites for Sigma to acquire and take each site through the planning and construction processes. Both companies envisage creating many hundreds of PRS homes through this arrangement. The new rental homes will be taken to market under Sigma’s private rental brand, ‘Simple Life’.

Working with local authority and housebuilding partners, as well as Homes England, Sigma has created a large-scale PRS model that aims to deliver thousands of new rental homes across the UK. Galliford Try Partnerships will be joining Sigma’s proven delivery platform, which has already completed in excess of 4,500 houses across all tenures.

In its role as investment advisor to The PRS REIT plc, the first quoted REIT established to invest in family PRS homes, Sigma expects to deploy funds approaching some £900m as it delivers The PRS REIT’s investment objectives to create a large-scale portfolio of high-quality family rental homes across England.

Stephen Teagle, Chief Executive of Galliford Try Partnerships, said: “The private rented sector is growing rapidly and we are delighted to enter into this collaboration with Sigma to deliver more homes of this tenure. We will be using our regeneration expertise and housebuilding skills alongside Sigma’s extensive experience of the sector to bring forward high-quality sites. This will complement our existing work with Registered Providers and local authorities, and will form a key part of our land-led delivery strategy. Our business units will be actively seeking new opportunities for our work with Sigma and the PRS REIT plc.”

Graham Barnet from Sigma said: “We are very pleased to be working with Galliford Try Partnerships on our first project together. Galliford Try Partnerships and its national housing division Linden Homes have a well-established reputation for delivering high-quality new homes and we believe that there will be further opportunities to unlock additional development projects, especially as we continue our roll-out strategy for the PRS REIT plc.”