Property News

Liverpool City Council approves land transfer for further 56 new homes for affordable rent at Norris Green

Friday, December 19, 2014


AIM: SGM

SIGMA CAPITAL GROUP PLC
(“Sigma” or “the Group”)

Liverpool City Council approves land transfer for further 56 new homes for affordable rent at Norris Green

Sigma, the residential and urban regeneration specialist, is pleased to announce that Liverpool City Council has agreed the transfer of 2.95 acres of land to Regeneration Liverpool (the joint venture between Sigma subsidiary, Sigma Inpartnership, and the city council) for a further proposed 56 new affordable rental homes.  The total development cost is estimated to be approximately £5.8 million. The land transfer and proposed affordable housing form part of the fifth phase in the redevelopment of Norris Green Village, a 63 acre site, located five miles from Liverpool City Centre.  

Through Regeneration Liverpool, Sigma has already been responsible for the delivery of 249 new homes at the scheme, with a further 123 contracted and on site, in mix of market for sale, PRS as well as affordable and social housing.  The additional 56 new homes will take the total units built or contracted to almost 428, making a significant contribution to the Mayoral priority to build 5,000 new homes in the city.

Regeneration Liverpool’s affiliate partner, Countryside Properties (UK) Ltd, will build 36 two-bedroom, 18 three-bedroom and two four-bedroom semi-detached affordable homes, which will ultimately be managed by Liverpool Mutual Homes.

Councillor Ann O’Byrne, the city council’s Cabinet Member for Housing and chair of Regeneration Liverpool, said:

“This is another important step forward for the regeneration of Norris Green, and this next phase will provide affordable housing for local people. We are committed to making Norris Green a great place to live and the improvement in housing is helping attract families back into the area. While there is still work to do, there is no doubt that huge progress has been made, and Phase 5 will take the number of properties delivered by the Regeneration Liverpool partnership to over 400.”

Graham Barnet, chief executive of Sigma, commented:

“I am delighted that Liverpool City Council has transferred further land for redevelopment under our partnership agreement, enabling Sigma to drive the next phase of the redevelopment of Norris Green Village.  The ultimate objective is for some 800 new homes to be built at Norris Green, with a mix of tenures, including market for sale, private rental, affordable and social housing.  The new affordable housing scheme will also contribute to Mayor’s aim of building 5,000 new homes across Liverpool.”  

Graeme Hogg, chief operating officer of Sigma, said:

"We have considered every aspect of the Norris Green scheme throughout each phase to ensure that at all times it remains a highly attractive and accessible neighbourhood for its residents. Not only will the additional homes contribute to the ongoing regeneration of the area but they will also continue to encourage investment in Liverpool, as well as sustaining existing jobs and creating opportunities for local people.  We look forward to setting the wheels in motion on site on Phase 5 in January 2015.”

Enquiries

Sigma Capital Group plc
Graham Barnet, Chief Executive
Marilyn Cole, Finance Director
T: 0131 220 9444
Company website: www.sigmacapital.co.uk

KTZ Communications
(PR adviser to Sigma)
Katie Tzouliadis/ Deborah Walter
T: 020 3178 6378

N+1 Singer
James Maxwell/Ben Griffiths
T: 0207 496 3000

 

Notes to editors:

About Sigma Capital Group plc
www.sigmacapital.co.uk

Sigma is a residential development and urban regeneration specialist, with offices in Manchester, London and Edinburgh. 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. Sigma's principal focus is now on the delivery of large scale housing schemes, initially for the Private Rented Sector ("PRS").

Established in 2001, Sigma subsidiary, Sigma Inpartnership, is a specialist property-led regeneration company. It has long term partnerships with local authorities, including Liverpool City Council, Salford City Council and Solihull Metropolitan Borough Council, to help deliver regeneration projects covering local housing, education, healthcare, infrastructure and commercial needs.  These partnerships, in total, provide for the delivery of over 10,000 new homes, a significant number of new retail centres, health/medical centres, schools and mix of retail/ leisure facilities.

 

About Regeneration Liverpool
www.regenerationliverpool.co.uk 

Regeneration Liverpool, (legally registered as Liverpool Partnership LLP) is a Limited Liability Partnership, established to assist Liverpool City Council with its ambitious regeneration strategy for the city and to contribute tangibly to the Mayoral targets.  

The partnership, formed in March 2007, is a joint venture between Liverpool City Council and regeneration specialist Sigma Inpartnership Limited.

Regeneration Liverpool’s is a city wide partnership or Asset Backed Vehicle that the city can use to redevelop any surplus land assets at its discretion.  The partnership is a long term vehicle that in the first instance is regenerating approximately 63 acres of the former Boot Estate in Norris Green. 

Regeneration Liverpool is managed by a board consisting of two Liverpool City Council representatives and two Sigma Inpartnership representatives.