IN BRIEF: Grainger reaches 95% leasing at Millwrights Place in Bristol

Grainger PLC - Newcastle Upon Tyne, England-based residential landlord - Grainger now has agreed lets on 95% of Millwrights Place in Bristol, leasing 231 build-to-rent homes at the project. Millwrights Place is Grainger’s second build-to-rent project in Bristol, after Hawkins & George at Finzels Reach, and it will be followed by a third, Glasshouse Square, which Grainger says is on track to launch later this year. At Millwrights Place, achieved rents have been about 3% ahead of estimated rental value, it says. Pointing to the three developments in Bristol, Grainger Chief Executive Helen Gordon says: ‘We are confident in our ability to continue delivering strong rental growth and attractive returns for our shareholders, contributing to our target of 50% earnings growth by financial year 2029.’

Current stock price: 219.00 pence

12-month change: down 14%

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