Sigma is one of the UK’s leading providers of Private Rented Sector housing ("PRS") in key cities throughout the regions. Sigma was founded in 1996 and was admitted to AIM in April 2000. Sigma has offices in Edinburgh, Manchester and London. Sigma's activities are focused on the delivery of large scale residential development, in particular PRS and large scale urban regeneration.
Our key initiatives are focused around a partnership with Gatehouse Bank plc - a Kuwaiti backed Investment Bank, with a new fund, UK PRS Properties, which is supported principally by the Kuwait Investment Authority and institutional shareholders from the State of Kuwait - and the building of Sigma’s own PRS assets. Our partnership with Gatehouse and its clients is for the delivery of large scale PRS portfolios with the first tranche being 918 new homes on 14 sites in Greater Manchester and Liverpool which commenced construction in November 2014 in a deal worth in excess of £100m. We subsequently launched a second phase with UK PRS Properties which will comprise a further 813 rental properties across nine sites with a total development cost in excess of £100m and these developments together with our own PRS assets makes Sigma one of the leading players in the delivery of new PRS homes in the UK.
As announced on 4th December 2015, Sigma is preparing its first sites for its own portfolio of PRS assets and expects to build a substantial portfolio of assets on its own
balance sheet alongside the significant scale it will be delivering and managing for its investment partners. We expect to have delivered or be in the process of delivering in excess of 2,500 new homes during the course of 2016.
Sigma Inpartnership, our regeneration business, has undertaken large scale regeneration projects, working as a bridge between public, principally Local Authorities, and private sector organisations. Sigma Inpartnership has created three partnerships, with Liverpool City Council, Salford City Council and Solihull Metropolitan Borough Council. The partnerships hold option arrangements with each of the local authorities for a mix of residential, commercial, education and health opportunities at various states of maturity. While working in tandem with its local authority partners, Sigma has focused on housing delivery within its partnerships and in association with other partners and local authorities have created financial models for the roll out of large scale residential portfolios in the private rented sector ("PRS").
In addition to the three Partnerships, Sigma is active on the same PRS model with other local authorities in other regions in the UK for the delivery of further housing sites and has a specific partnership in Sheffield for the delivery of PRS homes alongside the Council’s housing company.