Avant Homes has completed the sale of 306 new homes across eight developments to Sigma Capital Group for c. €68.5m. The homes are set to be taken to market under Sigma’s private rental brand, Simple Life.
The housebuilder’s major sale into the private rented sector (PRS) forms an important part of the company’s growth strategy to better serve customers and communities.
This involves Avant Homes constructing and selling its houses on a multi-tenure basis, whilst working closely with local authorities to deliver homes which are affordable and meet a range of housing needs.
Four of the developments are in north-east England, two in Yorkshire with the balance in the East Midlands. Under the terms of the deal, Avant Homes will hand over completed homes to Sigma on each of the developments.
Avant Homes Group special projects director, Timothy Pegg, said: “At a time where affordability is stretched, we are very pleased to be playing our part in providing energy efficient, quality new homes at price points and tenures customers can afford. Our developments are in popular locations, and we are delighted to be partnering Sigma in supporting communities across many of our regions. It is testimony to our ambition that we have been able to secure this large, multi-site deal with a PRS provider of the stature of Sigma Capital Group. We look forward to further developing our relationship with them, as well as creating new ones with other PRS providers throughout the UK as we evolve our multi-tenure growth strategy further.”
Sigma Capital Group land director, Graeme Reay, said: “We’re delighted to embark on this latest venture with new, trusted partners Avant Homes to help support the local and wider communities. We’re looking forward to offering renters across these regions with a high quality, professional approach to renting, bettering their housing options and considerably contributing to the housing market demands."
Avant Homes was advised on the sale by Colliers.
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