Grainger, which is already the UK’s largest listed residential landlord, is reported to have acquired an under-construction Build To Rent scheme for £32m.
The company has exchanged contracts with Abode Hallam Limited to purchase the Eccy Village scheme in Sheffield, which has 237 new BTR homes, scheduled for completion by the end of next year - 2019.
Abode Hallam Limited will develop the site to Grainger’s specification.
“This is the fourth significant [Build To Rent] acquisition we’ve announced in the past two months, demonstrating our continued success in finding and securing highly attractive investments in the private rented sector” says Grainger’s chief executive, Helen Gordon.
She says Sheffield is a key target for the firm’s BTR strategy.