The UK’s largest build-to-rent landlord, Grainger, has reported an uptick in rental growth, following steady performance last year.
Grainger saw like-for-like growth of 3.2% across its portfolio in the four months to the end of January.
Honing in on its PRS portfolio, Grainger reported growth of 3%, in line with expectations of 3-3.5% for the long term. The regulated tenancy portfolio grew by 3.9%.
This compares with like-for-like growth of 1% overall and 0.3% on PRS assets last year.
Chief executive Helen Gordon (pictured) said: “This performance is testament to our strong operational platform. Our customers recognise the value in our high-quality homes and great service.”
Grainger reported occupancy of 97% and rent collection of 98%. The FTSE 250 company said PRS now makes up around three-quarters of net rental income. It expects to launch four new assets this year, comprising 1,174 new rental homes.
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