Sigma Capital and Kellen Homes reach SFH BTR milestone

Sigma Capital and Kellen Homes' partnership reaches the £250m investment milestone and delivery of 1,000 single-family housing (SFH) Build to Rent homes.

Bennet Street single-family Build to Rent homes at Mellands Park in Gorton, delivered in partnership with Kellen Homes and Sigma Capital | BTR News
Bennet Street single-family Build to Rent homes at Mellands Park in Gorton, delivered in partnership with Kellen Homes and Sigma Capital.

Build to Rent provider Sigma Capital and housebuilder Kellen Homes are celebrating a new milestone with the start and delivery of nearly 1,000 new SFH Build to Rent homes in Greater Manchester in just 20 months of working together. This represents a £250m investment in the city region by Sigma Capital. 

The new SFH Build to Rent homes span five former brownfield sites across the city region. These include Albion Place in Salford, The Gateway in Ardwick, Mill Vale in Middleton, Irwell View in Bury and Mellands Park in Gorton.

Four of the five sites have already broken ground, with construction at the fifth site due to start in July 2024. The homes will be marketed under Sigma Capital’s Simple Life portfolio. 

“Kellen Homes is committed to building quality new homes for a diverse range of tenures across the North West and partnerships play a key role in helping deliver against that goal. Our established partnership with Sigma Capital has seen us provide this significant number of new homes for private rent and we are delighted to celebrate this milestone.  

“We’re already working with Sigma Capital on the next 1,000 new homes to continue this much needed investment for communities in the North West.” 

Ian Kelley, Founder, Kellen Homes

With single-family tenants affected by the short supply of good quality rental homes brought about by low levels of housebuilding and the exodus of individual landlords from the market, the new SFH Build to Rent homes at each site will help support the supply/demand imbalance, creating much needed family homes in areas in need of regeneration. The projects will also create new jobs in construction.

“In the Build to Rent industry, we know that working in partnership with trusted delivery partners such as Kellen Homes yields results, and these incredible numbers are testament to that belief. 

“We’re looking forward to ramping up our presence in the Manchester City Region and addressing a clear shortfall in the market, raising the standard for high-quality rental housing.” 

Graham Barnet, Chief Executive and Founder, Sigma Capital

This news follows the Sigma Capital and Kellen Homes’ recent win at the Property Week Resi Awards, where The Gateway single-family Build to Rent development was awarded top prize for PRS Deal of the Year.