UK: Developer Grainger has achieved 60 per cent lease-up at first build-to-rent (BTR) scheme in Oxford within three months of launch, exceeding its expectations.
The Kimmeridge, located in Oxford, comprises 150 rental homes alongside over 2,000 square feet of shared amenities, including a gym, residents’ lounge, co-working areas, a landscaped courtyard and a rooftop terrace.
Grainger, which has a portfolio of more than 11,000 rental homes across the UK and a pipeline of 4,500 further homes valued around £1.3 billion, said the strong take-up at The Kimmeridge reflected demand for high-quality rental homes in Oxford.
Helen Gordon, chief executive at Grainger, said: “We are absolutely delighted with the exceptional lease-up performance at The Kimmeridge.
“To achieve 60 per cent lease-up in just three months is an outstanding result, reflecting the compelling demand for our high-quality rental homes in Oxford and the strength of our inhouse leasing capabilities.
“As the first and only build-to-rent scheme in Oxford, The Kimmeridge demonstrates Grainger’s continued leadership in the sector.
“This success validates our investment in Oxford, a key location for Grainger, and strengthens our confidence in continuing to invest in our target locations and delivering strong rental growth.”
Highlights:
– Grainger has achieved 60 per cent lease-up in three months at Oxford first and only BTR scheme
– The Kimmeridge has delivered 150 homes with shared amenities for residents
– Grainger has highlighted strong demand for quality rental homes in Oxford
– The success has strengthened Grainger’s confidence in its BTR investments
