Grainger, the UK's largest listed residential landlord and leader in the UK private rented sector (PRS), today announces that it has agreed to forward fund a 284-home PRS development (known as 'build to rent') at Well Meadow in Sheffield for £42m.
The developer is Panacea Property Development. CEO Helen Gordon said: 'We are very pleased to further strengthen our Sheffield presence with this acquisition, which will deliver 284 high quality homes for rent in one of our target cities.
'With the city centre area undergoing significant regeneration, and housing demand supported by Sheffield's strong graduate retention rates, we are confident that Well Meadow will prove to be a popular location to live.'
At 8:33am: (LON:GRI) Grainger PLC share price was +1.6p at 248.6p