:
UK: Grainger, the country’s largest residential landlord, has converted to Real Estate Investment Trust (REIT) status.
Over the past decade, Grainger, a FTSE 250 company, has sold £1.8 billion of non-core, low-yielding assets and reinvested £2.9 billion in 10,000 high-yield Build-to-Rent (BTR) homes.
Grainger chief executive, Helen Gordon, said: “Over the past nine years, we have fundamentally reshaped our business to become the UK’s leading BTR provider.”
“With our fully funded pipeline of 4,565 new homes valued at £1.3 billion and our forecast of 50 per cent EPRA earnings growth by FY29, Grainger is well-positioned for continued success as a REIT.”
According to Gordon, demand for Grainger’s properties is strong, with occupancy above 96 percent and rental growth exceeding the long-term average. She also forecasts 25 per cent earnings growth by next year.
Grainer said that converting to REIT status positions the landlord as a more tax‑efficient investment vehicle by eliminating double taxation for the business and its shareholders.
Private, retail customers may invest directly in UK housing with Grainger, as well as individuals seeking an alternative to direct investment in buy-to-let properties.
To date, Grainger manages a portfolio of 11,000 rental homes, valued at £3.5 billion, and with more than 25,000 customers.
Highlights:
• UK’s largest residential landlord Grainger has converted to REIT status
• Grainger said this transition makes them a more tax-efficient investment vehicle.
• The landlord manages a portfolio of 11,000 rental homes in the UK.
