Grainger funds 307-home build-to-rent scheme in Cardiff

Private rented housing specialist Grainger has signed a deal to forward-fund a 307-home build-to-rent scheme in Cardiff that is being developed by IM Properties.

The £57m deal will see contractor Winvic Construction working on the Capital Quarter scheme. Grainger said Cardiff was a key target market for it because of strong rental market fundamentals allied with a limited amount of purpose-built rented housing stock.

Last week Grainger said that its pipeline of build-to-rent projects now topped 9,000 homes.

Helen Gordon, chief executive of Grainger, said: “We are pleased today to announce this £57m investment to deliver 307 new, high-quality, purpose-built rental homes in Cardiff, supporting growth in the region, building on our existing portfolio in the South-west and leveraging our operational platform.”