Grainger, Newcastle property giant, collects 95% rents

Grainger CEO Helen Gordon, left, and CFO Vanessa Simms

Newcastle-based Grainger plc, the UK’s largest listed residential landlord, on Tuesday released a trading update to the end of August 2020 showing its rent collections are “on time” and “have remained consistently high at 95%.”

The firm said it has secured £400 million investment for six new schemes, delivering 1,475 new homes.

Grainger plc CEO Helen Gordon said: “Grainger remains well positioned and our business strategy is proving its resilience in these challenging times.

“Our homes have never been so important to our residents who recognise the value of our high-quality product, in-house operational platform and commitment to great service. 

“Our Covid-19 response strategy to innovate, communicate and improve has ensured we have continued to deliver throughout this period, finding new ways to continue with sales during lockdown, supporting our residents and collecting 95% of our rents, whilst also investing the time to further train and develop our employees. 

“Our balance sheet is strong, and we continue to deliver a good performance whilst  growing our pipeline of PRS assets.

“Grainger is well placed to navigate any near-term economic uncertainty, continue its growth strategy and lead the way within the build to rent sector.”

About the Author

Mark McSherry
Dalriada Media LLC sites are edited by veteran news journalist Mark McSherry, a former staff editor and reporter with Reuters, Bloomberg and major newspapers including the South China Morning Post, London's Sunday Times and The Scotsman. McSherry's journalism has also appeared in The Washington Post, The Guardian, The Independent, The New York Times, London's Evening Standard and Forbes. McSherry is also a professor of journalism and communication arts in universities and colleges in New York City. Scottish-born McSherry has an MBA from the University of Edinburgh and a Certificate in Global Affairs from New York University.