Grainger has posted rental growth of 3% as it nears the end of its financial year, saying the uptick shows continuing demand for its homes.
In a trading update to the end of August, chief executive Helen Gordon said: “Our balance sheet is strong, and we continue to deliver a good performance whilst growing our pipeline of PRS assets. Grainger is well placed to navigate any near-term economic uncertainty, continue its growth strategy and lead the way within the build-to-rent sector.”
Sales profits for the year are likely to be flat, the company said. Occupancy in Grainger’s PRS portfolio stood at 95% at the end of August, down slightly from 97% in its last financial year.
The company now has four planning permissions submitted from its joint venture with Transport for London, with 1,200 homes across the four schemes. One of those schemes, Southall Sidings, has received planning committee approval. The company has also received approval for a site on Besson Street in Lewisham, SE14.
The company will publish results for the year to 30 September on 19 November.
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