Last checked at 27 Jun 2023 07:00
27 June 2023
Grainger plc
("Grainger", the "Company", the "Group")
TRADING UPDATE AND CAPITAL MARKETS EVENT
· Like-for-like rental growth 7.1% YTD
· Record occupancy 98.7% (PRS) continues
· Sales performance remains resilient
Grainger plc, the UK's largest listed residential landlord and leader in build-to-rent, with 9,737 operational rental homes and a further 5,406 build-to-rent homes in its £1.4bn secured pipeline as at HY23, is today providing an update on trading for the 8 months to 31 May 2023 and holding a Capital Markets Event at Enigma Square, in Milton Keynes.
Helen Gordon, Chief Executive of Grainger, said:
"Momentum in the business is continuing as we move into the peak summer lettings season and the launch of 7 new schemes in the remainder of 2023. Occupancy remains at record levels at over 98% and like-for-like rental growth across our national portfolio is continuing to build whilst remaining mindful of overall customer affordability levels".
Momentum in lettings continues
Our market-leading operating platform continues to deliver value:
· 7.1% total like-for-like rental growth YTD (HY23: 6.8%)
· 98.7% spot occupancy at the end of May (HY23: 98.5%)
Sales performance remains resilient
· Vacant sales volumes ahead of this time last year
· Robust sales pricing on average 1.8% below September vacant possession values YTD
Capital Markets Event
The event will focus on Grainger's investment in Milton Keynes, how we are de-risking development delivery and how we are harnessing data and customer insights to drive a robust and strong operational performance.
Copies of the presentation will be available on Grainger's website (http://corporate.graingerplc.co.uk/) following the event.
-ENDS-
For further information:
Grainger plc
Helen Gordon/ Rob Hudson
London Office Tel: +44 (0) 20 7940 9500
Newcastle Office Tel: +44 (0) 191 261 1819
Camarco (Grainger PR)
Ginny Pulbrook / Geoffrey Pelham Lane
Tel: +44 (0) 20 3757 4992/4985