Grainger boosts private rental sector income by 3.4%

Writer, Stock Market Wire
Wednesday, February 6, 2019 - 09:12

Residential landlord Grainger said it had boosted like-for-like rental income from its private rental sector portfolio by 3.4% in the first four months of its financial year.

The increase reflected the depth of customer demand, resilience of the sector and the quality of Grainger's offering, chief executive Helen Gordon said.

Grainger said lettings progress at Clippers Quay in Salford, the largest PRS scheme outside of London, had been 'very encouraging', with lease-up and rent levels ahead of expectations.

'With the business now underpinned by a resilient rental income stream and a robust balance sheet we are in a great position to progress our leadership in the sector,' the company said.

'We remain confident on the outlook for the year ahead.'

At 9:12am: (LON:GRI) Grainger PLC share price was +3.1p at 233.7p

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