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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Grainger Plc | LSE:GRI | London | Ordinary Share | GB00B04V1276 | ORD 5P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-1.00 | -0.38% | 260.00 | 260.00 | 261.00 | 261.50 | 255.00 | 255.00 | 12,837 | 09:04:38 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Real Estate Investment Trust | 106.1M | 25.6M | 0.0347 | 74.93 | 1.92B |
TIDMGRI
RNS Number : 2719L
Grainger PLC
30 September 2016
30 September 2016
Grainger plc
("Grainger", the "Company", the "Group")
Grainger commit to landmark build-to-rent scheme on
Leeds Riverside to deliver c.250 PRS homes
Grainger plc, the UK's largest listed residential landlord, announces that it has conditionally agreed to forward purchase a Private Rented Sector (PRS), build-to-rent development, on the former Yorkshire Post Gateway site ("Yorkshire Post") in Leeds city centre, for c.GBP40m from YP Real Estate.
This scheme, once complete, will comprise 242 new, purpose-built rental homes, over 18 floors, c.3,600 square feet of amenity space, a 3,277 square foot commercial unit and 72 car parking spaces.
The scheme is expected to complete in 2019 and is anticipated to generate a gross yield on cost approaching 7% once fully let.
The forward purchase agreement is conditional on the vendor securing final, detailed planning consent for the scheme and successful completion of the development.
Leeds is one of five key target cities for Grainger's PRS investment strategy, alongside Bristol, Manchester, Birmingham and London.
Helen Gordon, Chief Executive of Grainger, said:
"We are pleased to announce this sizeable PRS build-to-rent acquisition that will deliver 242 new, purpose-built rental homes in Leeds city centre. Leeds is a vibrant city which holds all the key characteristics of our PRS investment strategy, including a large professional workforce and significant economic growth potential."
-ENDS-
For further information:
Grainger plc
Helen Gordon/ Vanessa Simms/ Kurt Mueller
London Office Tel: +44 (0) 20 7940 9500
Newcastle Office Tel: +44 (0) 191 261 1819
Camarco
Ginny Pulbrook / Geoffrey Pelham-Lane
Tel: +44 (0) 20 3757 4992/4985
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCLLMMTMBJTTTF
(END) Dow Jones Newswires
September 30, 2016 02:01 ET (06:01 GMT)
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