Latest build-to-rent project announced by fast-expanding Grainger Plc

first_imgGrainger Plc, the UK’s largest build-to-rent company, has invested £28m in a new development hot on the heels of Chancellor Philip Hammond’s announcement yesterday that the government is to spend £8bn supporting build-to-rent and private housebuilding.The company, which saw its share price rise following both announcements, says it is to finance the building of, and then own, Grainger’s Yard in Birmingham.“We are pleased today to announce our latest investment in one of our key target locations,” says Chief Executive Helen Gordon (pictured, left).It’s a 156-apartment block of purpose-built, privately-rented homes on the fringes of the city’s fast-gentrifying central Jewellery Quarter (pictured, right).The acquisition is part of a plan to invest £850m in the sector over the next three years, and in addition to £389m already spent this year including a £100m development in Salford, £57.3m development in Kew, London and a £40m property in Leeds.Newcastle-based Grainger is leading the built-to-rent charge in the UK, spurred on by a Conservative government keen on the sector’s ability to provide privately-funded rental apartments in large number at zero cost to the Treasury.Although the Chancellor didn’t mention it in his speech, build-to-rent is a key plank in the government’s plans to provide the 300,000 additional homes needed every year in the UK to keep up with demand – twice the current number of new homes for sale or rent being built at the moment.The company has a net rental income of £37.4m a year and has 8,600 homes under management worth £2.63 billion, half of which are in helen gordon Build to Rent apartments build-to-rent November 23, 2017Nigel LewisWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Hong Kong remains most expensive city to rent with London in 4th place30th April 2021 Home » News » Latest build-to-rent project announced by fast-expanding Grainger Plc previous nextLatest build-to-rent project announced by fast-expanding Grainger PlcNew 156-apartment project in Birmingham follows Chancellor’s £8bn backing for build-to-rent sector.Nigel Lewis23rd November 201703,189 Viewslast_img read more