Member Article

Newcastle's Grainger plc continues rental action plan with £14.5m Liverpool housing acquisition

Newcastle-headquartered Grainger plc, the UK’s largest listed residential property owner and manager,is continuing its strategic investment plan in the private rental sector (PRS) with the acquisition of a site in Liverpool.

The firm has acquired 120 furnished apartments and town houses at Kings Dock Mill, Liverpool, for £14.5m.

The deal, which also includes commercial space and car parking, will reportedly generate gross rental income of £1m per annum.

The move follows on from the recent purchase of 98 units in south west London through their PRS Fund, GRIP, and its acquisition of Clippers Quay, a 600 unit Build to Rent development scheme in Salford.

As one of the largest PRS operators in the UK, with c.3,600 PRS homes under management, these schemes build on Grainger’s existing platform and regional presence and support its ambition to become the UK’s leading institutional private landlord.

Helen Gordon, Chief Executive of Grainger, said: “This acquisition reinforces our confidence in the regional markets. With our well established operational platform in place, we look forward to continuing to grow our portfolio and offering good homes to renters throughout the UK.’’