A joint vnture between Sigma and EQT Real Estate (EQT) has appointed Kinleigh Folkard & Hayward (KFH), a London-based property services group, as partner for the lettings and asset management of its build-to-rent (BTR) portfolio currently being established in London.
The joint venture, launched at the end of September 2020, is targeting the delivery of an initial portfolio of c.3,000 rental homes across Greater London over the next five years with a value of over £1bn.
The portfolio will consist of high quality, build-to-rent apartment blocks located in the more affordable parts of Greater London, primarily in TfL Zones 3-6 and close to transport links and including sites with train access to central London.
The joint venture’s first homes are at Fresh Wharf, Barking and Beam Park, Rainham and will be launched in February 2021.
”This represents a further extension of Sigma’s UK-wide PRS platform, adding extensive local knowledge and infrastructure as Sigma rolls out a significant PRS portfolio in London with its partner, EQT,” said Sigma in astatement. ”The initial seed assets of the joint venture are progressing as planned, and first tenants are expected to take occupancy of completed homes before the end of April 2021.”
KFH, which currently oversees a portfolio of 30,000 residential units across London, will be working under the direction of Sigma and all new rental homes will be marketed and let under Sigma’s ‘Simple Life London’ brand.
“We are very pleased to appoint KFH in readiness for the launch of our first new rental homes in London under our joint venture with EQT Real Estate,” said Rob Sumner, Residential Investment Director at Sigma Capital Group plc.
“KFH has established an excellent reputation in the private rental property market in London and their values of exceptional customer service align with ours. We look forward to the launch of our first completed apartments in East London and to welcoming our first Simple Life London residents before the end of April,” he added.
“We are delighted to have been appointed to lease up and manage assets within this portfolio under the Simple Life London brand, working with Sigma and EQT Real Estate’s exciting joint venture company to establish their presence in the Capital. During the last six months, we have built a close working relationship with the Sigma team in preparation for the imminent first releases in East London,” said Paul Masters, Group Operations Director at Kinleigh Folkard & Hayward.