Business
Trading Update
Grainger plc reported strong trading for the four months to January 2026, with like-for-like rental growth of 3.1% and occupancy remaining high at 96.0%. The company highlighted robust demand, evidenced by its Seraphina BTR scheme in London being fully let in under four months, and announced a new 195-home BTR scheme acquisition in Chiswick through its joint venture with TfL. Grainger anticipates significant future earnings growth driven by its committed pipeline and the divestment of non-core assets, which is expected to generate approximately £0.5 billion in surplus capital for redeployment. Disclaimer*
About this update from Grainger Plc
[{"type":"text","content":"\n\n4 February 2026\nGrainger plc\n(\"Grainger\", the \"Group\", or the \"Company\")\n \nTRADING UPDATE\nStrong operational performance, strong outlook\n· Rental growth of 3.1% in line with prior guidance[1]\n· Occupancy remains high at 96.0%[2]\n· Strong demand for our product, with our new BTR asset, Seraphina, fully let in less than 4 months\n· New scheme added to pipeline through TfL JV\n· Strong visibility on future earnings growth\n \nGrainger plc, the UK's largest listed provider of private rental homes, today provides an update on trading for the four months to the end of January 2026, alongside its AGM which is being held today at its head office in Newcastle upon Tyne. The Company will announce its half year results for the six-month period ending 31 March 2026 on 14 May 2026.\n \nHelen Gordon, Chief Executive of Grainger, said:\n \n\"Grainger continues to perform strongly. We successfully maintained healthy rental growth and strong levels of occupancy across the portfolio. \n\"We continue to see strong demand for our product, with our latest London BTR scheme, Seraphina, being fully let in less than four months. We recently completed our third scheme in Bristol, Glasshouse Square, which launched in January. We commenced construction at our second scheme in Guildford with Network Rail. We were also pleased to announce the new acquisition of a 195-home BTR scheme in Chiswick through Connected Living London, our JV with TfL's property arm, Places for London, an addition to our committed pipeline. This will be the first scheme to commence construction through the JV.\n\"Our outlook is strong and positive, with market-leading earnings growth to come and a proven ability to deliver sustainable rental growth and high occupancy, driven by our leading operational platform. We are confident of the future.\" \nStrong performance continues\nRental growth and occupancy remain strong and have tracked in line with expectations and prior guidance.\n\n\n\n\n· Total like-for-like rental growth YTD:\n\n\n3.1%\n\n\n\n\n· PRS like-for-like rental growth YTD:\n\n\n2.8%\n\n\n\n\n· Regulated tenancy like-for-like rental growth YTD:\n\n\n\n6.2%\n\n\n\n\n\n· &...