Grainger, one of the biggest names in Build To Rent in the UK, says its current BTR pipeline stands at 24 schemes and that it’s completed or in the process of constructing 9,104 homes purpose built for the private lettings market.
In a statement to shareholders the company has also revealed that four new BTR schemes will be launched this year.
They are Solstice Apartments in Milton Keynes; Millet Place at Pontoon Dock in London; Apex Gardens at Seven Sisters in London; and The Filaments in Greater Manchester. These, along with Brook Place which launched earlier this year, will see Grainger deliver over 1,000 new homes in 2020.
Chief executive Helen Gordon has told investors: "I‘m pleased to report a period of continued momentum in our [Build To Rent] private rental sector growth strategy, as the UK's leading provider of private rental homes…Lettings on our recently launched schemes are progressing well and ahead of underwriting, a testament to the quality of the design of our buildings and customer service offering. We are seeing a growing customer demand for our rental homes across the portfolio with 97.5 per cent occupancy and 3.5 per cent like-for-like rental growth.”
And she says the company is in a strong position “to benefit from the market opportunities following the clear result of the General Election which is already driving improved housing market sentiment.”
Meanwhile the latest data from the NHBC shows a surge in BTR completions last year - the 4,800 units completed represent a 57 per cent rise over 2018.
In 2015, when the NHBC first collected Build To Rent data, just 1,257 purpose built flats were completed.