David Walters to leave Grainger

Grainger’s development director David Walters is to leave the company in the new year. He has been at the rental operator and investor for almost 14 years, working on schemes including Apex House in Tottenham and Young Street in Kensington and Chelsea. He has sourced and managed 1,140 residential units across 11 sites, with a GDV of around £885m. Grainger has seen a degree of change over the last 12 months, with the arrival of new chief executive Helen Gordon and the refocusing of the company specifically towards its rental housing business. Over the summer, it confirmed a number of redundancies, including Derek Gorman and Laure Duhot. Its annual results last week nevertheless showed a 69% rise in adjusted earnings, to £53.1m. It has spent £389m on PRS since Gordon’s arrival in January, with a further £347m in the pipeline. Estates Gazette understands that Walters resigned but it is not known what his future plans are. See also: PRS pays off for Grainger Revamped Grainger cuts execs Grainger backs Bristol PRS • To send feedback, e-mail alex.peace@estatesgazette.com or tweet @egalexpeace or @estatesgazette