Rental Growth and Occupancy Reach Record Levels

by Warren Seah

Grainger, a leading property investment company in the U.K., has reported a significant increase in total like-for-like rental growth for fiscal year 2023. The company achieved a record occupancy rate of 98.6% in the private rental sector.

Steady Rental Growth

During the year ending on September 30, Grainger experienced a rental growth rate of 7.7%, surpassing the 6.8% recorded at the half-year mark. This positive trend is attributed to the company’s completion of over 1,600 new build-to-rent homes in 2023. With these additions, Grainger’s total operational portfolio will consist of more than 10,000 homes. This expansion is expected to drive a significant boost in EPRA earnings.

Resilience and Robustness

Grainger remains confident in the strength of its sales and valuations, as well as the resilience of its balance sheet. The company is determined to ensure that rental growth aligns closely with wage inflation while maintaining affordability for its customers.

Strong Operational Performance

Grainger is proud of its strong operational performance, which is further supported by a robust balance sheet. This positions the company favorably in the current market.

As a reflection of this positive news, shares in Grainger have seen an increase of 2.4%, rising by 5.40 pence to reach 233 pence at 0708 GMT.

You may also like

Leave a Comment