North East property firm Grainger Plc has revealed it is planning to buy a second development site in Bristol where it plans to build more than 200 homes.
The company, which is the 海角视频’s largest listed rental housing provider, is set to acquired land at Millwrights Place from Cubex Land.
Acquiring the site will allow Grainger to build 231 homes in the area.
In an update to investors Grainger’s CEO Helen Gordon said: “I am also pleased to announce we have agreed to acquire our second scheme in Bristol, Millwrights Place, which is adjacent to our Hawkins & George scheme at Finzels Reach. The scheme will be acquired from Cubex Land, who also developed Hawkins & George.
“The 231 private rental homes at Millwrights Place will perfectly complement Hawkins & George, creating a cluster of assets in Bristol city centre, enabling us to efficiently manage both sites together.”
The second site is being acquired following the success of the Hawkins & George development, which comprises of 194 apartments. The first development has been fully let within three and a half months of its launch.
In the trading update, Ms Gordon said the company’s current strategy was progressing well, with Grainger committing itself to invest £1.555bn into private rental housing.
Among the projects Grainger is currently working on is its PRS partnership with Transport for London (TfL). The deal between the two organisations was struck in July and involves Grainger building 3,000 homes across seven seed sites in London. Construction is expected to commence on all of the sites by 2021.
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The housebuilder has also released a new tech product that will allow renters to interact with their landlord through their phone or computer.
“Today we also announce the roll out of our new market-leading PRS technology platform, Connect,” said Ms Gordon. “This platform will support Grainger’s major growth plans as we set out to double the size of our rental property portfolio.
“Connect enables our customers to undertake nearly every interaction regarding renting and living in their homes from their mobile or computer, linking seamlessly with Grainger’s back-end management systems.
“Connect will enable Grainger to minimise costs and driving gross-to-net operational efficiency and further differentiate our already market leading position.”