More details have emerged of the long-term scheme to site Build To Rent homes at Transport for London tube stations and bus hubs.
In April this year TfL selected Grainger as its Build To Rent partner for an initial seven seed sites, which will combined provide sites for 3,000 homes.
The first schemes are expected to reach planning application stage in the first half of next year, and a report in London’s Evening Standard free newspaper says these will be at Arnos Grove and Southall.
“Our selection by TfL as their PRS partner against strong competition from across the world is an endorsement of Grainger and of our strategy. This partnership perfectly complements our strategy and growth ambitions” says Grainger chief executive Helen Gordon.
Grainger’s recent report to shareholders gives an insight of the scale and potential profitability of Build To Rent.
Grainger is the UK’s largest listed residential landlord and this week reported a 45 per cent rise in rental income to £63.5m for the year to September.
Pre-tax profits were up almost a third to £131.3m.