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UK: Grainger plc has provided a positive update on trading for the 11 months to the end of August 2026.
The company reported strong rental demand and leasing performance; occupancy at above 96 per cent; and like-for-like BTR rental growth at three per cent.
CEO Helen Gordon said: “It’s been another strong year of operational performance for Grainger. Demand for our rental homes remains strong with rental growth continuing in line with expectations and occupancy remaining high. We’ve made good progress in our pipeline including securing planning permission in Cambridge, our first investment in this target city, through our partnership with Network Rail.”
“We have a clear plan to deliver shareholder value. We are on track to grow earnings by 35 per cent from FY25 to FY29 from the BTR development projects in our committed pipeline. We have an accelerated disposals programme in place for our c.£850 million pool of non-core assets. We will reduce net debt by £300 million to 350 million by the end of FY29 to offset the rise in future finance costs from higher interest rates. We are lowering costs, with £2.4 million of central costs removed at the beginning of this financial year and we are targeting a further c.£2 million of savings to be delivered during FY27, representing 12 per cent of our cost base overall. Alongside this, we will continue to closely consider the use of surplus capital in light of share price performance, weighing up the returns between share buybacks and investment opportunities.”
She added: “We have adapted well to the new Renters’ Rights Act environment with rental growth and occupancy remaining strong, and we are benefitting from certain advantages including greater visibility on future vacancies. The recent changes in the political landscape have reaffirmed the Government’s support for our sector and their continued opposition to rent controls. Grainger continues to deliver strong operational results. We are confident in the positive outlook for the business and our earnings growth trajectory, focused on delivering value for shareholders.”
Highlights:
- Grainger plc has provided a positive update on trading for the 11 months to the end of August 2026
- The company reported strong rental demand and leasing performance
- Occupancy stood at above 96 per cent and like-for-like BTR rental growth reached three per cent
