REG - Grainger PLC - Grainger JV Acquires 195‑Home Build to Rent Scheme

GraingerAnnouncement

Today 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20260126:nRSZ3230Qa&default-theme=true

RNS Number : 3230Q  Grainger PLC  26 January 2026

26 January 2026

Grainger plc

("Grainger" or the "Company")

 

GRAINGER JV ACQUIRES 195-HOME BUILD TO RENT SCHEME

IN CHISWICK, WEST LONDON

 

Grainger plc ("Grainger"), the UK's largest listed residential landlord, is
pleased to announce that Connected Living London (CLL), its partnership with
Places for London, the property arm of Transport for London (TfL), has agreed
to forward fund and acquire a 195-home Build to Rent (BTR) scheme at Chiswick
Reach, Bollo Lane, West London to be developed in partnership by Barratt
Redrow PLC.

 

The scheme, which is a new addition to the Grainger-Places for London joint
venture's pipeline, has detailed planning consent and Gateway 2 approval from
the Building Safety Regulator to commence construction. The scheme will
deliver 195 new BTR homes, including 95 Discounted Market Rent homes. The
development will also include 4,299 sq ft of high quality commercial space and
5,499 sq ft of internal amenity space for residents including co-working space
and a gym.

 

The purchase price for the scheme is c.£68.4 million (split 51:49 between
Grainger and Places for London as per the CLL structure), with the development
expected to generate returns in line with Grainger's target range for London
schemes with Grainger also receiving asset management fees.

 

Chiswick Reach is well-connected, located on former railway land on Bollo
Lane, West London, and is an 8-minute walk to Chiswick Park (District Line)
and South Acton (Overground) stations. The site expands Grainger's West London
cluster.

 

This marks Grainger's first BTR collaboration with a major UK housebuilder.

 

Construction is expected to commence in Q1 2026 and practical completion is
anticipated in late 2028 with leasing to begin in late 2028 / early 2029.

 

Helen Gordon, Chief Executive of Grainger, commented:

 

"We are pleased to announce this strategic milestone in our partnership with
Places for London, a new scheme in our JV's pipeline with construction
commencing imminently, delivering 195 high quality rental homes in a
well-connected West London location. Working alongside Barratt Redrow on this
project represents an exciting development in our approach to delivery
partners, opening potential new avenues for collaboration with major
housebuilders as we continue to expand our build-to-rent portfolio across the
UK.

 

"This scheme further strengthens our London portfolio, complements our growing
cluster in West London and demonstrates continued momentum in Connected Living
London, our partnership with Places for London, delivering professionally
managed, purpose-built rental homes across the capital."

 

 

-ENDS-

For further information, please contact:

 

Investor relations

Kurt Mueller, Grainger plc:
                          +44 (0) 20 7940 9500

 

Media

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

 

About Grainger

Grainger plc is the UK's largest listed residential landlord and a market
leader in the UK private rented sector. Grainger is focused on growing its
private rented sector portfolio through its market leading build-to-rent
investment and operational platform. Grainger has a national portfolio of over
11,000 rental homes, with a further c.4,500 build-to-rent homes in its £1.3bn
pipeline.

 

About Connected Living London

Connected Living London is a partnership between Grainger plc and Transport
for London (TfL)'s property arm, Places for London, to deliver quality rental
homes across the capital, with a focus on transport hub locations.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCAKPBKNBKBNDB



            Copyright 2019 Regulatory News Service, all rights reserved