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Countryside Partnerships and built-to-rent (BTR) provider Sigma Capital Group have agreed two deals to deliver a total of 190 BTR homes with a combined value of just under £80 million.
At Clapham Park, the £1bn South London regeneration scheme that Countryside Partnerships is delivering in joint venture with housing association Metropolitan Thames Valley Housing, 115 BTR homes worth £56m will be created for a joint venture between EQT Exeter, a global real estate investment manager, and Sigma Capital, a BTR specialist and property manager.
The homes will be marketed under Sigma's private rental brand, Simple Life London. The wider mixed-tenure regeneration scheme will deliver 2,482 high-quality homes, of which 53% will be for affordable tenures. Phase 1 will deliver 520 homes, comprising 282 affordable homes, 123 private homes and 115 homes for rent.
The second deal includes the delivery of 75 BTR homes with a value of £22m at Countryside Partnerships’ mixed-tenure scheme in Spencer’s Park, Hemel Hempstead. In partnership with Homes England, the site will provide 600 new homes, including the homes for Sigma (marketed under Sigma’s regional brand Simple Life Homes).
In addition to the housing tenures being delivered across both schemes, Countryside Partnerships will also be delivering much-needed community, educational, retail and commercial facilities as well as public realm enhancements. Additionally, considerable investment will be allocated to placemaking and social value initiatives, ensuring the community benefits of the schemes can be felt from day one.
Stephen Teagle, Chief Executive of Countryside Partnerships, said: "The addition of build-to-rent homes for two of our major schemes will help to meet the increasing demand for quality rental homes where demand is outstripping supply. The deal is testament to the strength of our long-term partnership with Sigma and of Countryside Partnerships’ continuing commitment to building sustainable, mixed tenure communities, working in partnership to respond to the housing crisis."
