Sigma has agreed to expand its existing strategic partnership with Countryside Properties to build thousands of new rental homes over the next three years.

The agreement will see a further 5,000 private rented sector (PRS) homes delivered across multiple regions in England and builds open Sigma's existing relationship with Countryside.

In December 2014, an initial agreement was signed with Countryside for the delivery of 927 homes, which was extended to include a further 900 homes in February 2016.

In a trading announcement, Sigma said: "The new Framework Agreement significantly enhances Sigma's relationship with Countryside and supports the growth ambitions of both parties. Countryside has a reputation for the quality of its product, and a recent acquisition has broadened its geographic reach, supporting plans to accelerate its home building partnership with Sigma."

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Graham Barnet, Chief Executive Officer (CEO) of Sigma, said: "We are delighted to be extending our highly successful relationship with Countryside, one of the UK's leading home builders, which regularly wins awards for its work. This major new agreement targets the delivery of 5,000 high-quality family homes across a number of regions over the next three years - over and above those already built or in process.

"There is a structural shortage of housing in the UK, across all tenures, and our unrivalled delivery platform brings together local authorities, home builders and funders with the common aim of creating new, professionally-managed rental homes for families, a largely neglected and growing part of the overall rental market."

Ian Sutcliffe, Group CEO of Countryside, said: "We have been a long-standing partner of Sigma and are delighted to continue working together.

"This new agreement supports the continued expansion of Countryside's Partnerships division and our mixed tenure delivery model. It will allow us to speed up the delivery of homes more quickly on larger Partnerships sites and meet the strong demand we are seeing for our product."

(LM/MH)