Keepmoat and Sigma Capital Group have agreed an £800m private rented sector partnership which aims to deliver 5,000 homes over the next five years.
The agreement, which is Keepmoat’s first development activity in the PRS market, will comprise two-, three- and four-bedroom properties built in locations across the North East, Yorkshire and East Midlands.
Sigma will manage investment and lettings, while Keepmoat will lead on the design, planning and building processes.
Construction on the first site is due to commence in summer 2016.
Dave Sheridan, chief executive at Keepmoat, said: “There is an inherent need for more housing across the country, and we are looking to tackle the issue head on.
“In 2015, we built more than 4,000 homes and our aim is to increase our housing growth by 25% year-on-year going forwards. 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.”
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