REG - Grainger PLC - New BTR partnership with Network Rail & Bloc Group

GraingerAnnouncement

22/11/2023 07:15

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RNS Number : 1998U  Grainger PLC  22 November 2023

 

22 November 2023

 

Grainger plc

Network Rail, Bloc Group, and Grainger create new Build-to-Rent partnership
across Great Britain

 

Potential to deliver over 2,000 homes across six major cities

Grainger plc, the UK's largest listed residential landlord with over 10,000
operational rental homes, today announces that it has agreed to enter a
partnership with Network Rail and Bloc Group, through 'blocwork', a Joint
Venture between the two parties.

The partnership has the potential to deliver over 2,000 new purpose-built
rental homes across sites in major cities across Great Britain.

Network Rail, Bloc Group and Grainger have recently completed The Barnum, a
highly successful 348-home build-to-rent scheme in Nottingham, with blocwork
as developer and Grainger as investor, funding the development and operating
it upon completion.

In this new partnership, Network Rail will bring forward potential sites for
build-to-rent from its extensive, well located property portfolio and with the
Blocwork JV as developer, will take the schemes through the planning process,
with Grainger actively involved in design proposals. Once planning approval is
secured, Grainger will forward fund the scheme and ultimately own and operate
the completed schemes.

The selection of the brownfield sites for development follows other
successfully completed wider station developments that have been brought
forward in major cities. These sites provide excellent transport connections
for future residents and align closely to the partners' strategy of delivering
housing that creates long term value and delivers sustainable regeneration.

Helen Gordon, CEO at Grainger, said: "Having successfully delivered The
Barnum, a build-to-rent scheme of 348 homes, with the Network Rail and Bloc
Joint Venture 'blocwork', we see this as a great opportunity to collaborate
further and deliver a potential 2,000 much needed high quality rental homes
across the country, aligned to our city strategy. This partnership supports
Grainger's ambitious growth plans and provides access to superbly located and
well-connected sites".

- ENDS -

For further information, please contact:

 

Investor relations

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

 

Media

Julie Deighton, Director of Communications, Grainger plc:
                   +44 (0) 20 7940 9500

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

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