Four directors at Scottish property group Sigma Capital were awarded bonus payments totalling £845,000 on the back of a successful year for the company
A total of £495,000 was awarded to the directors after the company raised £250 million for a new investment trust to invest in the private rental sector.
The directors also received further incentive payments totalling £350,000 based on Sigma’s overall performance during the year, according to the group’s annual report.
The bonus payments meant founder and chief executive Graham Barnet saw his annual pay package jump to £847,000 last year from £497,000 the previous year. He received a total of £400,000 in bonuses on top of his £447,000 salary.
Chief operating officer Graeme Hogg received £300,000 in bonuses on top of his £337,000 salary. Together with other benefits his total package rose to £642,000 from £373,000.
Finance director Malcolm Briselden received a £75,000 bonus as part of a £230,000 package and Gywnn Thomson, property investment director, received a £70,000 bonus as part of a £210,000 package.
During the year the company raised £250 million in placing proceeds for the PRS real estate investment trust which Sigma is both investment adviser and development manager of.
The trust was set up to invest in new-build homes for the private rented sector and has already committed to development sites that are expected to create a portfolio of 5,600 new rental homes. Last week, the company announced that it had taken delivery of its 1,000th home.
