Countryside extends PRS deal with private equity firm

Countryside Properties and private equity group Sigma Capital plan to build a further 5,000 private rental sector homes as part of an extended partnership agreed between the two firms.

The pair first teamed up in December 2014 to build 927 homes, with an extension to that agreement signed in February 2016 and a further 900 homes.

In the year to 30 September 2017, Countryside delivered 721 PRS homes for Sigma across the North West of England and the West Midlands.

The new deal will see the two companies target the delivery of a further 5,000 private rental sector homes over the next three years.

Ian Sutcliffe, Countryside’s chief executive, said: “This new agreement supports the continued expansion of Countryside’s Partnerships division and our mixed tenure delivery model. It will allow us to speed up the delivery of homes on larger partnerships sites and meet the strong demand we are seeing for our product.”

In April Sigma signed a deal with Galliford Try to build PRS homes as part of its plan to put up around 20,000 such units across the UK.