RCS - Grainger PLC - Oxford scheme achieves c.60% lease up in 3 months

GraingerAnnouncement

Wed 07:00

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RNS Number : 2534Q  Grainger PLC  09 July 2025

9 July 2025

 

Grainger plc

 

Oxford's first BTR scheme achieves rapid c.60% lease up in 3 months

§  Reinforces Grainger's strategic investment in Oxford

§  Highlights market-leading operational platform

 

Grainger plc, the UK's largest listed residential landlord and leader in the
Build to Rent (BTR) sector with over 11,000 rental homes and a pipeline of
c.£1.3bn comprising c.4,500 BTR homes, is pleased to announce a significant
operational milestone at The Kimmeridge, one of its flagship developments, the
first and only BTR scheme in Oxford. Since launching at the start of March
2025, The Kimmeridge, which comprises 150 BTR homes, has achieved c.60%
lease-up in just three months, well ahead of expectations and underwriting.
This rapid absorption rate highlights the strong demand for Grainger's
high-quality rental homes and the depth of its operational expertise.

 

Helen Gordon, Chief Executive, said:

"We are absolutely delighted with the exceptional lease-up performance at The
Kimmeridge. To achieve c.60% lease-up in just three months is an outstanding
result, reflecting the compelling demand for our high-quality rental homes in
Oxford and the strength of our inhouse leasing capabilities.

 

"As the first and only Build to Rent scheme in Oxford, The Kimmeridge
demonstrates Grainger's continued leadership in the sector. This success is
underpinned by our market-leading operating platform, the dedication of our
on-site teams, and the excellent customer experience we consistently deliver.
It validates our investment in Oxford, a key location for Grainger, and
strengthens our confidence in continuing to invest in our target locations and
delivering strong rental growth."

 

Situated to the west of Oxford city centre, The Kimmeridge has quickly become
one of the city's most sought-after addresses. The BTR development has over
2,000 sq ft of shared amenity space for residents, including a
state-of-the-art 24/7 gym, a residents' lounge with dining area and
kitchenette, flexible co-working zones with private meeting pods, a landscaped
courtyard and an expansive rooftop terrace. Residents also benefit from free
superfast broadband and the support of a dedicated on-site resident services
team.

 

The exceptional performance at The Kimmeridge provides compelling evidence of
Grainger's market leading position in this strong, and growing, market for
high-quality, professionally managed rental homes. This leasing milestone
reinforces Grainger's focused strategy to deliver long-term, compounding
returns and progressive dividends for its shareholders, by leveraging its
£1.3bn BTR pipeline, comprising approximately 4,500 homes, to address the
growing rental housing needs in key cities across the UK.

 

-ENDS-

 

 

 

For further information, please contact:

 

Investor Relations

Kurt Mueller, Director of Corporate Affairs, Grainger plc:
 +44 (0) 20 7940 9500

 

Media

Valentine Agamah, Head of Communications, Grainger plc:      +44 (0) 20
7940 9500

Ginny Pulbrook / Geoffrey Pelham-Lane, Camarco:
 +44 (0) 20 3757 4992 /
4985

 

Notes to editor

 

Visit The Kimmeridge website to see images of the scheme: The Kimmeridge
(https://www.graingerplc.co.uk/developments/the-kimmeridge)

Take a virtual tour of The Kimmeridge: The Kimmeridge - Virtual Tour
(https://my.matterport.com/show/?m=NtPLYfaML61)

Visit Grainger's website to see its national portfolio of Build to Rent homes:
www.graingerplc.co.uk (http://www.graingerplc.co.uk)

 

About Grainger plc

Founded in Newcastle upon Tyne in 1912, Grainger plc, a FTSE 250 business, is
the UK's largest listed residential landlord and leader in the fast-growing
build-to-rent sector, providing c.11,100 rental homes to over 25,000
customers. With a pipeline of secured build-to-rent development projects
totalling c.4,500 homes and £1.3bn, Grainger is creating thousands more
rental homes by investing in cities across the UK.

 

Grainger works in partnership with a large number of public sector
organisations to deliver new homes to local communities, including Transport
for London, Network Rail, the Ministry of Defence, Lewisham Borough Council
and the Local Pensions Partnership.

 

Grainger's build-to-rent developments provide a range of customer benefits
from professional on-site resident services teams, resident amenities
including gyms, residents' lounges, roof terraces, meeting rooms and
co-working space for those working from home, and superfast 250MB fibre optic
broadband.

 

Recognised as a FTSE4Good business, Grainger also takes a leading approach to
sustainability, specifically Environmental and Social issues (ESG) and has an
ambitious target to be net zero carbon in the operations of its buildings by
2030, to have a diverse and inclusive workforce and to make a positive social
impact in locations where it invests and operates.

 

 

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