UK: Grainger is set to deliver a record 1,640 homes in 2023, a record figure for the Newcastle-based company.
Britain’s largest listed residential landlord and BTR developer has generated £128.4 million in operating profit and has seen a 12 per cent increase in its net rental income.
The landlord has increased its delivery of homes, having completed 1,201 homes across six schemes so far this year. It will deliver a further 439 homes by the end of 2023.
In 2022, Grainger added 669 new homes to its portfolio. It has a further 5,634 homes in its £1.6 billion build-to-rent pipeline.
Grainger currently has a £3.3 billionn operational portfolio and owns 10,208 homes across the UK. The company’s private rented sector portfolio represents 77 per cent of its operational portfolio in terms of value.
It has recently announced a new BTR partnership with Network Rail and Bloc Group yesterday, which will see the joint venture forward fund and acquire BTR schemes on sites adjacent to major rail hubs, delivering up to 2,000 homes.
CEO Helen Gordon said: “Having successfully delivered The Barnum, a BTR scheme of 348 homes, with the Network Rail and Bloc jv ‘blocwork’, we see this as a great opportunity to collaborate further and deliver a potential 2,000 much needed high quality rental homes across the country, aligned to our city strategy. This partnership supports Grainger’s ambitious growth plans and provides access to superbly located and well-connected sites.”
“Despite the macro-economic turbulence which marked the beginning of our financial year, the Grainger business has performed exceptionally well. This performance has been delivered by our market-leading operating platform, robust balance sheet and disciplined approach to capital allocation. Our property valuations held up well, underpinned by strong rental growth,” she added.
