11th Feb 2016 08:16
LONDON (Alliance News) - Grainger PLC said Thursday it has seen continued high demand for its private rented sector homes in its first four months to end-January, and an "encouraging start to the year" from sales of vacant properties.
The specialist residential company said it saw rental increases in the four months averaging 7.8% on new lets, excluding refurbishments, and 3.6% on renewals.
Grainger made GBP39 million in revenue from sales of vacant properties at an average 4.2% above their September year-end vacant possession value. It had a sales pipeline of GBP83 million at the end of January, ahead of GBP81 million the previous year.
Shares in Grainger were up 0.4% at 215.60 pence Thursday shortly after market open.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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