Listed landlord Grainger Plc says the company is gearing up for a huge growth spurt on the back of a continued strong performance.
The Newcastle-based residential landlord and build-to-rent champion saw half-year rental income grow by 12% to top £48m in the six months ended March 31, while like-for-like rental growth was 6.8%. Occupancy rates also rose to 98.5% across its portfolio, triggering a 10% rise in dividends.
Half-year profits dropped from £31.6m to £25.2m but the firm said the performance was resilient, reflecting robust sales pricing, with the average sales price within -2.2% of vacant possession value, reflecting strong demand for properties.
