Grainger marks ‘year of record delivery’ in 2023
Grainger has reported a “year of record delivery” after it completed five schemes, developing more than 1,600 homes in 2023.
In an update for the past 12 months, the UK’s largest listed residential landlord said rental income had grown by 7.7%.
Its PRS portfolio delivered 8% rental growth and record occupancy of 98.6%.
Grainger has reported a “year of record delivery” after it completed five schemes, developing more than 1,600 homes in 2023.
In an update for the past 12 months, the UK’s largest listed residential landlord said rental income had grown by 7.7%.
Its PRS portfolio delivered 8% rental growth and record occupancy of 98.6%.
Chief executive Helen Gordon said: “Sales remain robust, valuations continue to demonstrate resilience, and our balance sheet remains strong. We continue to successfully execute on our growth plans which will see our post-tax EPRA earnings double in the next three years.
“This year is another year of record delivery of new homes for Grainger. We are due to complete over 1,600 new build-to-rent homes in 2023, driving a further step change in EPRA earnings and bringing our total operational portfolio to over 10,000 homes.
“Our strong operational performance is coupled with a strong balance sheet, positioning us well in the current market. We have fixed the cost of our debt in the mid-3%s for the next five years. Our asset recycling programme continues at an elevated level in line with our previously reported plans.”
The company has a £3.1bn operational portfolio of 10,000 homes and has plans to deliver a pipeline of 7,000 homes over the next five years.
To send feedback, e-mail akanksha.soni@eg.co.uk or tweet @AkankshaEG
Photo courtesy of Camarco
