Build-to-rent giant Grainger says earnings on track to rise by 50%

RESIDENTIAL landlord giant Grainger has seen another year of strong rental income growth, and told investors its on track for a significant hike in earnings.

- By Tom Keighley

The Newcastle-based business which recently transitioned to become a Real Estate Investment Trust (REIT) issued a pre-close update to the London Stock Exchange in which it said like-for-like rental growth was 3.6% across its substantial UK portfolio of about 11,000 homes, with occupancy at more than 98%.

Chief executive Helen Gordon said the growth across the year to the end of September had come despite the current economic environment. The build-to-rent specialist also pointed to about £169m generated from disposals.