Listed North East landlord Grainger has hailed continuing momentum and record letting levels in an update to shareholders.
The Newcastle business, which has a firm focus on the build to rent market, has 9,737 operational rental homes and a further 5,406 build-to-rent homes in its £1.4bn secured pipeline. In a trading update for the eight months to May 31, it said it has 7.1% total like-for-like rental growth, up from 6.8% in half year results announced last month, and 98.7% occupancy as of the end of May, up from 98.5%.
The firm said its sales performance remains resilient, with vacant sales volumes ahead of this time last year and robust sales pricing on average 1.8% below September’s vacant possession values. The update comes ahead of a Capital Markets Event being held today at Enigma Square, in Milton Keynes.
