Sigma Capital Group expands build-to-rent portfolio into London

Private residential development and urban regeneration specialist Sigma has expanded its build-to-rent activities and ‘Simple Life’ rental brand into London.

This follows with the acquisition of two development sites in Havering and Barking. This first venture is expected to mark the start of greater activity over the coming year.

Sigma has acquired an 80-unit development site at Beam Park, part of a £1bn regeneration project underway across the London Boroughs of Havering and Barking & Dagenham, on land released by the Greater London Authority (GLA) as part of the GLA’s plans for new London homes.

Sigma has also acquired a 77-unit development site at Fresh Wharf, a major riverside scheme close to Barking Town centre.

The company is said to be working with Countryside Properties and L&Q New Homes at the Beam Park scheme and with Countryside Properties and Notting Hill Developments at Fresh Wharf.

The combined total gross development cost (GDC) of the two sites is around £43.8m, while the Fresh Wharf site is expected to be completed towards the end of 2020, with Beam Park completing by spring 2021.

Graham Barnet, CEO of Sigma Capital Group, said: “We are delighted to announce the expansion of Sigma’s build-to-rent activities into London, with the acquisition of our first two sites at Fresh Wharf in Barking and Beam Park in Dagenham.

“This is an exciting first step for the company into a new key geography. The move into London means that Sigma’s property delivery platform now reaches across most of the mainland UK, providing us with significantly increased development opportunities. It also takes our letting brand, Simple Life, into the London market.”

Sigma’s move into London follows on from its recent launch in Scotland, where it has entered into a collaboration agreement with housebuilder Springfield Properties plc.