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New Grainger CEO reveals £850m rental investment plan for Newcastle firm

Helen Gordon, the new CEO of Grainger plc, has laid out a new action plan to drive up rental income for the Newcastle-based property group.

The firm has identified three key themes for action to be taken. Grainger plans to accelerate the acquisition of its existing and newly built rental homes, re-allocate its development team resources to deliver new private rental sector (PRS) stock and refocus its acquisitions team to improve the access and conversion of PRS opportunities.

Giving an insight into plans between now and 2020, an investment of over £850m into PRS assets lies at the heart of Grainger’s plan to drive its rental income growth.

As well as growing its rental income, the company’s latest strategy update has outlined plans to simplify and focus its operations, whilst building on its heritage of having a high quality residential portfolio.

Helen revealed: “Since joining Grainger on 3rd November I have worked closely with our team, undertaking a deep review of every aspect of the business.

“I have been hugely impressed with the unrivalled knowledge and expertise our people have and the platform that has been developed. Our high quality regulated tenancy portfolio provides an excellent foundation from which we can grow our offering of private rented sector (“PRS”) homes.

“However, it is clear that swift and decisive action is required to capitalise on the compelling PRS market opportunity and to enable Grainger to realise its potential of being the UK’s leading private landlord. We will transition to one highly focused business that will deliver improved and sustainable, rental asset led shareholder returns.”

In addition the Board of Grainger plc is pleased to announce that Vanessa Simms will join the Group as Finance Director, earlier than anticipated, on Thursday 4 February 2016.^

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