Grainger plc
GRAINGER ACQUIRES REGIONAL PRS PORTFOLIO FOR £10.4M
Grainger plc ("Grainger", the "Company" or the "Group"), the UK's largest listed residential property owner and manager, today announces it has acquired a residential property portfolio of 112 private rented sector (PRS) units for c.£10.4m.
The portfolio comprises five sites located in Newcastle, Whitley Bay and Leeds, with an estimated rental value of c.£694k per annum.
Today's acquisition is further demonstration of the Company's continued acceleration of growth in its PRS business.
Including today's announcement, Grainger has acquired over 1,000 PRS units with a market value of c.£94m since 1 October 2014, bringing the value of the Company's total UK PRS portfolio to over £925m of assets under management.
-ENDS-
For further information:
Grainger plc
Andrew Cunningham / Nick Jopling / Kurt Mueller
London Office Tel: +44 (0) 20 7940 9500
Newcastle Office Tel: +44 (0) 191 261 1819
FTI Consulting
Dido Laurimore / Tom Gough / Ellie Sweeney
Tel: +44 (0) 20 3727 1000
This information is provided by RNS