Newcastle-based Grainger plc, the UK’s largest listed residential landlord, said on Tuesday it agreed to forward fund a 146-home private rented sector (PRS) development with 12,500 sq ft commercial space in the Hallsville Quarter Development at Canning Town, London for about £62 million.

The developer is Linkcity and the building contractor is Bouygues UK.

This is the fourth PRS scheme Linkcity and Bouygues UK will deliver for Grainger, which has stock market value of around £1.5 billion.

Grainger CEO Helen Gordon said: “We are pleased to further strengthen our London presence with this acquisition, which will deliver 146 high quality homes for rent in London, one of our top target cities. 

“The area is undergoing significant regeneration, and we know from our experience with Argo Apartments that this is a very popular location to live, with such great access to the wider city. 

“Upon completion of this project, Grainger’s east London cluster will comprise 534 purpose-built PRS homes.”