SDL Group has revealed that it is set to double its Build to Rent (B2R) business over the next 18-months thanks to a newly announced deal with Sigma Capital Group plc, the residential and urban regeneration specialist.
Earlier this month, Sigma officially launched its new Simple Life brand, aiming to bring over 10,000 new purpose-built rental homes to the market. As part of the launch, SDL Bigwood has been appointed as the partner for all Lettings and Property Management of this portfolio.
With 50 units already let, the team at SDL Bigwood will handle the letting of a further 295 units that are currently under construction and will start to be released for occupation in March, with another 1,900 homes in the pipeline.
For Paul Staley, director of PRS at SDL Group, the newly announced deal is hugely significant:
“In 2016, we set out plans to secure 20 per cent of the UK’s new B2R specific stock by 2020, so this is a major step towards that,” said Paul.
“We have a long-standing relationship with Sigma Capital and are delighted to be working with the team on this new venture. With Simple Life now on board, we’re forecasting that SDL Bigwood is set to let over 100 B2R properties per month for the next year, with a run rate of more than 150 per month by 2018.
“Of course, we recently saw the government emphasising the importance of the rental market as part of its housing whitepaper. The launch of Simple Life is testament to the growth of the sector and shows the importance of being able to offer quality and professionally managed homes.”
Graham Barnet, chief executive of Sigma, added:
“Simple Life is designed to differentiate our offering in the rental marketplace. To ensure that we deliver the exceptional service and consolidate Sigma’s position as a leader in the private rental housing sector in the UK, it’s vital we work alongside trusted and expert partners such as SDL Bigwood.”
The new homes being delivered by Simple Life will consist of a mix of two, three and four-bedroom houses and two-bedroom apartments across the North West, Yorkshire, the Midlands and North London.