Grainger plc Share News (GRI)

(Sharecast News) - Residential landlord Grainger has achieved a rapid 60% lease-up of its Kimmeridge build-to-rent scheme in Oxford in just three months since launch.

The Kimmeridge, one of Grainger's flagship developments and the only BTR scheme in Oxford, comprises 150 homes and over 2,000 sq ft of shared amenity space for residents, including a gym, lounge, co-working spaces, courtyard and terrace.

The 60% lease-up rate achieved since March is well ahead of expectations and underwriting, the company said, and highlights the strong demand for the development.

"We are absolutely delighted with the exceptional lease-up performance at The Kimmeridge. To achieve c.60% lease-up in just three months is an outstanding result, reflecting the compelling demand for our high-quality rental homes in Oxford and the strength of our inhouse leasing capabilities," said Grainger's chief executive Helen Gordon.

She said that the strong take-up so far "validates our investment in Oxford, a key location for Grainger, and strengthens our confidence in continuing to invest in our target locations and delivering strong rental growth".