Keepmoat has announced a new partnership with urban regeneration specialist Sigma to deliver over 5,000 new private rented sector (PRS) homes across England by 2021.

Work on the first site is due to begin this summer.

The deal is valued at £800 million and will see Keepmoat deliver two, three and four-bedroom properties across the North East, Yorkshire and the East Midlands.

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

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Dave Sheridan, Chief Executive at Keepmoat, said: "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. There is an inherent need for more housing across the country, and we are looking to tackle the issue head on."

Graham Barnet, Chief Executive of Sigma, added: "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. We are very pleased that Keepmoat has chosen to work with Sigma in its first development activity in the PRS market, and believe that it underscores Sigma's success in the PRS sector."

(LM)