Avant Homes has sold 306 new homes across eight developments to Sigma Capital Group for more than £59.5m.
Four of the developments are located in the north east of England, two are in Yorkshire and two are in the East Midlands.
Avant Homes will hand over the completed homes to Sigma on each of the developments, which will be marketed under Sigma’s private rental brand Simple Life.
Timothy Pegg, special projects director at Avant Homes Group, said: “At a time where affordability is stretched, we are very pleased to be playing our part in providing energy efficient, quality new homes at price points and tenures customers can afford. Our developments are in popular locations and we are delighted to be partnering Sigma in supporting communities across many of our regions. It is testimony to our ambition that we have been able to secure this large, multi-site deal with a PRS provider of the stature of Sigma Capital Group.
“We look forward to further developing our relationship with them, as well as creating new ones with other PRS providers throughout the UK as we evolve our multi-tenure growth strategy further.”
Graeme Reay, land director of Sigma Capital Group, added: “We’re delighted to embark on this latest venture with new, trusted partners Avant Homes to help support the local and wider communities. We’re looking forward to offering renters across these regions with a high quality, professional approach to renting, bettering their housing options and considerably contributing to the housing market demands.”
Mike Gorman, head of residential capital markets at Colliers, which advised Avant on the sale, said: “It’s great to see that Sigma recognise the opportunity that Avant had to offer, investing in new rental properties to meet the ever-present housing need. By diversifying its portfolio into the single family housing market, Avant Homes understands that no matter the economic challenges, there’s always a demand for new, quality housing which needs to be met.”
