Residential landlord Grainger plc has announced continuing revenue rises despite what it described as the “financial challenges facing many individuals”.
The Newcastle firm - which has a portfolio of around 10,000 homes, with a similar number in the development pipeline - has released a trading update ahead for the 11 months to the end of August. It said like-for-like rental income had grown 4.5% so far this year with a higher figure of 5.4% in its newest properties.
The company noted the cost-of-living pressures facing many, and said it was taking a “responsible approach to rental increases”, while also ensuring most of its properties had the highest levels of energy efficiency. It said occupancy levels were at a record level of 98.2%.
