Grainger is to start on its PRS scheme in Newbury before the end of the year after appointing Engie Regeneration as the main contractor on the project.
Grainger and Engie agreed a construction contract worth £52m.
The west Berkshire development will deliver 232 new homes for rent as well as improved pedestrian access from Newbury train station to the town centre.
The scheme being carried out in partnership with West Berkshire Council and Network Rail and is expected to complete in 2021.
Grainger expects it to generate a gross yield on cost in excess of 6.25% once stabilised.
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