Grainger buys two sites to deliver 480 homes

Grainger has acquired two sites for build-to-rent developments in Exeter and Sheffield which will deliver 480 homes in total.

Britain’s largest private landlord announced today that it has bought the Exmouth Junction site in Exeter, which already has planning consent for 230 homes. The scheme will deliver 173 homes for private rent and 57 for discounted market rent.

It has also bought a site for Brook Place 2, a scheme in Sheffield to deliver 250 build-to-rent homes, subject to planning consent. It would sit next to Grainger’s existing 237-home Brook Place scheme.

Helen Gordon, chief executive officer at Grainger, said: “We are pleased to acquire these two development sites in Exeter and Sheffield, leveraging our in-house development capabilities and aligned to our national growth strategy.

“Both cities are very attractive from a build-to-rent investment perspective and will perfectly complement our growing portfolio.”

Grainger has nearly 10,000 rental homes in its existing portfolio and a further 8,373 in its £1.9bn pipeline.

Grainger last year said it plans to double its BTR portfolio within five years.