£700m joint venture agreed with Gatehouse Bank plc and Sigma Capital to support the roll-out of one of the UK’s largest portfolios of new private rented residential properties
Sigma, the residential and urban regeneration specialist, is pleased to announce that it has agreed a major joint venture with Gatehouse Bank plc which will support the roll-out of an initial c.2,000 new privately rented residential properties in the UK, with the potential to grow the portfolio to c.6,600 new rental homes once fully developed. The initial c.2,000 new rental homes have a total development cost of c.£200m and the development cost of the entire proposed portfolio is estimated at c.£700m. Gatehouse is a leading London-based Shariah compliant investment bank with a real estate portfolio worth in excess of £1 billion across the UK and US. The new homes will be built on land procured and developed by Sigma and the model is underpinned by Sigma's existing three local authority partnerships, with Sigma currently in discussions with other potential local authority partners.
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