Property group moves closer to its PRS targets

Residential property group SDL has agreed a deal with Sigma Capital Group which will move it towards its ambitions of having a 20% share of the UK’s build to rent (B2R) stock by 2020.
Sigma officially launched its Simple Life brand earlier this month, which aims to bring more than 10,000 purpose-built rental homes to the market.
SDL Bigwood has been appointed as the partner for all lettings and property management of this portfolio and the group now expects to double its B2R business over the next 18 months
It 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.
Paul Staley, director of PRS at SDL Group, said: “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.
“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.”

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