Keepmoat to build 5,000 homes for rent by 2021

Keepmoat has struck a deal with investment partner Sigma Capital Group to invest £800M in building private rental schemes.

Under a deal with investment parter, Sigma Capital Group, Keepmoat aims to build over 5,000 new private market rental homes across England by 2021.

The firm is planning to build 1,000 rental homes in the first year alone. The properties will be in locations across the North West, Yorkshire, the Midlands and north of London.

They will comprise of two, three and four bedroom properties for private rent on land owned and to be acquired by Keepmoat.

Sigma will manage investment and lettings while Keepmoat will procure the land and take the lead on the design, planning and building processes.

Dave Sheridan, Chief Executive at Keepmoat, said: “This is a significant milestone for our business, and we are proud to be working alongside Sigma to scale-up their PRS growth ambitions.

“The partnership will deliver great quality market rented homes alongside our Keepmoat homes for sale, which will allow the pace of housing delivery on strategic sites to be increased, to deliver the Government’s aspirations and provide people across the country with much-needed housing options.

“To deliver this target we are working closely with our supply chain – many of which are small and medium sized businesses – to help them to grow and respond to the market need.”

Graham Barnet, Chief Executive of Sigma, said: “I am delighted to announce our partnership with Keepmoat, which has grown out of our previous relationship with them, and our continued expansion in the PRS sector.”

Construction on the first site is due to commence in summer 2016.

 

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