Vistry Group Share Price Edged Up 2.9% on the Sigma Partnership

The Vistry Group PLC (LON: VTY) share price edged up 2.9% after announcing that its subsidiary Countryside Partnerships, recognised as a top developer of mixed-tenure homes in the UK, has established a new Framework Agreement with Sigma Capital Group for the construction of 5,000 new homes under Sigma's Build-to-Rent (BTR) brand, Simple Life Homes. 

Sigma Capital Group is a prominent figure in the Build-to-Rent sector, specialising in single-family housing, and represents one of the critical partnerships Vistry Group maintains within this industry.

This agreement enhances the ongoing relationship between Vistry and Sigma, which has seen Countryside Partnerships participate as a framework partner in Sigma's Build-to-Rent program since 2014. The arrangement is designed to further the growth objectives of both entities by defining a structured plan and timeline for their expansion efforts.

Over the next five years, these 5,000 new homes will be developed for Sigma in various regions across the UK. This initiative is set to bolster Vistry's Partnerships strategy, which aims to provide a diverse range of housing tenures to meet the needs of communities, fostering the creation of sustainable and long-lasting neighbourhoods.

Greg Fitzgerald, CEO of Vistry Group, said: “This framework agreement with Sigma is another great example of how our Partnerships model can deliver at scale the mix of housing tenures that residents across the UK desperately need. High-quality build-to-rent homes continue to be an important offering for our mixed-tenure communities, and we are thrilled to be continuing our long-term partnership with Sigma.”

Graham Barnet, CEO and Founder of Sigma Capital Group said: “We are delighted to be extending our long-term relationship with Vistry. They have been the foundation partner of our BTR single-family housing model since 2014, where we have delivered over 8,500 new family homes across the UK with a delivery cost of £2.25 billion to date. We currently have over 3,500 additional homes under construction across the UK, and with a track record of 98% let or reserved at any given time and above industry standard BTR customer review scores*, we're looking forward to delivering many more much-needed BTR family housing over the next 5 years with our partner Vistry.”

Vistry Group share price. 

The Vistry Group share price edged up 2.90% to trade at 977.0p from Tuesday’s closing price of 949.5p.