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TODAY'S OTHER NEWS

PropTech used by Build To Rent specialist to differentiate from rivals

A PropTech platform devised by Build To Let specialist Grainger is to be used in a bid to differentiate the company from rival operators in the growing BTR sector.

In a trading statement Helen Gordon, Grainger chief executive, says: "Today we…announce the rollout of our new market-leading PRS technology platform, Connect. This platform will support Grainger's major growth plans as we set out to double the size of our rental property portfolio.”

And she continues: “Connect enables our customers to undertake nearly every interaction regarding renting and living in their homes from their mobile or computer, linking seamlessly with Grainger's back-end management systems. Connect will enable Grainger to minimise costs and driving gross-to-net operational efficiency and further differentiate our already market leading position.”

So far since 2016 the company has spent an eye-watering £1.155 billion into Build To Rent, and during the past 12 months has constructed 912 new homes to let and there is a further 1,150 anticipated in 2020. 

Its pipeline is vast - 25 schemes, including some at Transport for London hubs, representing 8,608 homes. Some 15 schemes are currently underway. 

“Our most recently launched schemes in Bristol, Manchester and Hampshire are leasing well and ahead of expectations. In particular, Hawkins & George in Bristol, which comprises 194 apartments, is now fully let in three and a half months since launch, well ahead of expectations and our initial underwriting” explains Gordon to shareholders.

"I am also pleased to announce we have agreed to acquire our second scheme in Bristol, Millwrights Place, which is adjacent to our Hawkins & George scheme at Finzels Reach” she adds. 

“The scheme will be acquired from Cubex Land, who also developed Hawkins & George. The 231 private rental homes at Millwrights Place will perfectly complement Hawkins & George, creating a cluster of assets in Bristol city centre, enabling us to efficiently manage both sites together.”

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