The first 24 flats from the deal will be built Norfolk Park and involves the Sheffield Housing Company and Sigma Capital Group.

Keepmoat and Sigma Capital, which formed their partnership in July this year, aim to deliver 5,000 private rented homes in the UK.

Thousands of two, three and four bedroom properties will be built in locations across the North West, Yorkshire, the Midlands and north of London.

In the next 12 months alone Keepmoat and Sigma are targeting over 1,000 of the construction starts in these locations.

The new two bedroom homes being built on land off Park Grange Road will be managed by SDL Group.  

Martin Smithurst, regional managing director at Keepmoat, added: “We’re pleased to be delivering the first scheme of this major investment in a thriving city like Sheffield, where the need for wider housing solutions is apparent across the board. 

“As well as working on significant regeneration projects, we are also delivering homes for sale in the region and so this step into the PRS sector will sit alongside our existing offering to allow the pace of housing delivery on strategic sites to be increased.

“We’re proud to be working in partnership with Sigma and look forward to identifying more sites in the region that could benefit from their investment.”