GRAINGER ACQUIRES PRS PORTFOLIO FOR £10.4M

Grainger plc

GRAINGER ACQUIRES REGIONAL PRS PORTFOLIO FOR £10.4M

Grainger plc ("Grainger", the "Company" or the "Group"), the UK's largest listed residential property owner and manager, today announces it has acquired a residential property portfolio of 112 private rented sector (PRS) units for c.£10.4m.

The portfolio comprises five sites located in Newcastle, Whitley Bay and Leeds, with an estimated rental value of c.£694k per annum.

Today's acquisition is further demonstration of the Company's continued acceleration of growth in its PRS business.

Including today's announcement, Grainger has acquired over 1,000 PRS units with a market value of c.£94m since 1 October 2014, bringing the value of the Company's total UK PRS portfolio to over £925m of assets under management.

-ENDS-

For further information:

Grainger plc

Andrew Cunningham / Nick Jopling / Kurt Mueller

London Office Tel: +44 (0) 20 7940 9500

Newcastle Office Tel: +44 (0) 191 261 1819

FTI Consulting

Dido Laurimore / Tom Gough / Ellie Sweeney

Tel: +44 (0) 20 3727 1000