Grainger PLC - Newcastle Upon Tyne, England-based residential landlord - Build-to-rent property development Kimmeridge achieves 60% leasing in three months, ahead of expectations. Kimmeridge comprises 150 homes in Oxford, England. The take-up rate ‘highlights the strong demand for Grainger’s high-quality rental homes and the depth of its operational expertise,’ the company says. Chief Executive Helen Gordon says this ‘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’.
The company adds: ‘This leasing milestone reinforces Grainger’s focused strategy to deliver long-term, compounding returns and progressive dividends for its shareholders, by leveraging its £1.3 billion build to rent pipeline, comprising approximately 4,500 homes, to address the growing rental housing needs in key cities across the UK.’
Current stock price: 208.04 pence, up 0.3% on Wednesday morning in London
12-month change: down 13%
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