StockMarketWire.com - Private rented sector and urban regeneration specialist Sigma Capital said it had expanded into the London build-to-rent market with the acquisition of two development sites, in Havering and Barking.

The venture was expected to mark the start of greater activity over the coming year, the company said.

Sigma had 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.

The land was released by the Greater London Authority as part of its plans for new London homes.

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

The company said it was 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 of the two sites was about £43.8m.

The Fresh Wharf site was expected to be completed towards the end of next year, with Beam Park completing by Spring 2021.

Sigma's move into London followed its recent launch in Scotland, where it had entered into a collaboration agreement with Springfield Properties.




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