UK’s largest build-to-rent developer and landlord sold for £188 million

The UK’s largest build-to-rent housing specialist and landlord Sigma Capital is being sold to a private equity ©1999 - Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® - UK’s largest build-to-rent developer and landlord sold for £188 million | LandlordZONE.

UK’s largest build-to-rent developer and landlord sold for £188 million

The UK’s largest build-to-rent housing specialist and landlord Sigma Capital is being sold to a private equity firm for £188m.

Edinburgh-based Sigma has built more than 5,400 new rental properties – mainly single-family homes – working with partners in the building sector, investors and local authorities.

The company was quick to spot the potential of the PRS amid pressure on housing in the UK, following its creation as a technology investment business in 1996. Sigma’s successful model is based on sourcing development sites, managing the planning and construction process and overseeing lettings and property management through to completion.

City fund manager PineBridge Benson Elliot, whose portfolio includes three hotels at Disneyland Paris, has made the cash offer – subject to approval by shareholders, after Sigma announced it was looking to fund its future growth and maximise shareholder potential.

Graham Barnet, chief executive and founder, says he believes the team at PineBridge Benson Elliot, as well as its capital backing, will make a powerful combination and enable Sigma to significantly expand its activities.

BTR pioneer

He adds: “Sigma has been a pioneer in the delivery of new, single-family homes in the creating an unrivalled property delivery and management platform. We believe we have delivered one of the largest number of new family rental homes in the UK. We also manage the rental of thousands of homes for our partners.”

Adds Barnet: “The need for high-quality, professionally-managed rental homes remains a critical unmet need in the UK and we look forward to developing our model further.”

©1999 - Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® - UK’s largest build-to-rent developer and landlord sold for £188 million | LandlordZONE.

Source : Landlord Zone More   

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Still going: the lottery winner who doubled his money via buy to let

Landlord and property developer Karl ­Crompton is still working hands-on in the sector 25 years after winning ©1999 - Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® - Still going: the lottery winner who doubled his money via buy to let | LandlordZONE.

Still going: the lottery winner who doubled his money via buy to let

Landlord and property developer Karl ­Crompton is still working hands-on in the sector 25 years after winning the Lotto.

Despite scooping £10.9 million in 1996, the 48-year-old has been pictured recently working on a property renovation in Blackpool.

The first photos of him in 14 years show Crompton on a building site, pushing a wheelbarrow of cement.

He was just 23 when he hit the jackpot, but instead of squandering it on the good life, he’s built up a buy-to-let property empire, doubling his fortune to £22 million.

In a 2009 interview with the , Crompton explained how he had ploughed all of his winnings into property, spending £1.5 million building his five-bedroom Gothic-style home in Fylde, which was valued at £3.6 million 10 years ago.

Buying spree

His parents, Keith and Pat, lived in a property at the front. The former trainee at Comet, who earned £100 a week before the win, also splashed out on another home in Vancouver.

Multi-millionaire Crompton revealed that it was his mum who suggested he should buy a ticket for the Lotto rollover draw.

“My mum and dad and brother helped pick some numbers then I went out with my pals. The next morning, I came downstairs to the kitchen and my mum said, ‘You’re looking at a lottery winner. I’ve got four numbers and got £96 or something.’

“So I looked at the numbers and my ticket. Even when Camelot later confirmed the numbers, I couldn’t believe I’d won.”

Read more about successful landlords.

Pic credit: Shutterstock/Twitter via

©1999 - Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® - Still going: the lottery winner who doubled his money via buy to let | LandlordZONE.

Source : Landlord Zone More   

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