GRAINGER ACQUIRES PRS PORTFOLIO FOR £10.4M

RNS Number : 6341D

Grainger PLC

28 October 2015

 

Grainger plc

GRAINGER ACQUIRES REGIONAL PRS PORTFOLIO FOR £10.4M

Grainger plc ("Grainger", the "Company" or the "Group"), the UK's largest listed residential property owner and manager, today announces it has acquired a residential property portfolio of 112 private rented sector (PRS) units for c.£10.4m.

The portfolio comprises five sites located in Newcastle, Whitley Bay and Leeds, with an estimated rental value of c.£694k per annum.

Today's acquisition is further demonstration of the Company's continued acceleration of growth in its PRS business.

Including today's announcement, Grainger has acquired over 1,000 PRS units with a market value of c.£94m since 1 October 2014, bringing the value of the Company's total UK PRS portfolio to over £925m of assets under management.

-ENDS-

For further information:

Grainger plc

Andrew Cunningham / Nick Jopling / Kurt Mueller

London Office Tel: [phone]

Newcastle Office Tel: [phone]

FTI Consulting

Dido Laurimore / Tom Gough / Ellie Sweeney

Tel: [phone]

 

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