Grainger : Private rental sector ("PRS") growth strategy boosted by £14.5m, 120 unit acquisition

6 April 2016

Private rental sector ('PRS') growth strategy boosted by £14.5m, 120 unit acquisition

Grainger plc, the UK's largest listed residential property owner and manager, today announces it has acquired 120 furnished apartments and town houses, commercial space and car parking at Kings Dock Mill, Liverpool for £14.5m which will generate gross rental income of £1m per annum.

This latest acquisition follows on from the recent purchase of 98 units in south west London through their PRS Fund, GRIP, and its acquisition of Clippers Quay, a 600 unit Build to Rent development scheme in Salford.

As one of the largest PRS operators in the UK, with c.3,600 PRS homes already under management, these schemes build on Grainger's existing platform and regional presence and support its ambition to become the UK's leading institutional private landlord.

Helen Gordon, Chief Executive of Grainger, said:

'This acquisition reinforces our confidence in the regional markets. With our well established operational platform in place, we look forward to continuing to grow our portfolio and offering good homes to renters throughout the UK.''

-ENDS-