Housing choice widened in city deal

The choice of housing options across Sheffield is being widened, thanks to an agreement between Sheffield Housing Company (SHC) and residential and urban regeneration specialist, Sigma Capital.

Under the arrangement, announced to the London Stock Exchange yesterday (June 8^th), the two companies will work together to create a portfolio of housing to Sigma's specification. These two, three and four bedroomed homes would then be made available for private rent at market levels.

The properties could either be built on stand alone sites or developments which include homes for private sale and affordable rent.  Discussions on exactly where the homes might be constructed and by when, are already underway.

The revenue raised by this commercial arrangement, with land and property transactions reflecting market values, will support SHC's programme of construction and job creation in the city.

Tom Fenton, Project Director with Sheffield Housing Company, said:  “This is a high profile agreement with which we are proud to be associated.  It should provide further housing choices for the people of Sheffield for many years to come.”

The agreement brings another major English city into Sigma's portfolio and is in line with the group's objective of focusing on major cities outside London. 

Graham Barnet, Chief Executive, added:  “The agreement is a major step forward as we proceed with our plans - with our partners - to deliver thousands of new rental homes outside London.  Sheffield is England's fourth largest city outside London and it brings a key region to our delivery pipeline.”

SHC is dedicated to delivering homes of the best value in the city in terms of size and build quality.  It is a unique partnership between Sheffield City Council, Keepmoat Limited and Great Places Housing Group.  The aim is to help Sheffield continue to be one of the best places to live in the UK.

The 15 year SHC plan is to build in excess of 2,300 new homes in seven of Sheffield's most vibrant neighbourhoods - around 85% for private sale and the remainder for affordable rent.  Any development with Sigma would be in addition to this.

Current homes are two to six bedroomed properties with the latest home energy saving systems and living space enhancements.  They can be easily modified as residents' needs change – making them lifetime homes.  No other developer in the city is building to these exacting standards. 

So far 293 homes are completed or under construction - at Brearley Forge and nearby Brearley Springs in the Shirecliffe area and at Cutler's View in Norfolk Park.  Planning permission was recently given for 297 more in Fir Vale, Manor, Parson Cross with further homes at Norfolk Park and Shirecliffe. 

In addition to regenerating areas of Sheffield the project is creating jobs and training opportunities for local people – including 27 apprenticeships to date.  It has also commissioned £5.4 million worth of work and services from businesses within the city region, representing almost 30% of the total investment made in the construction.

For more information about Sigma please visit www.sigmacapital.co.uk