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Landlord targets 2,000 BTR homes in new partnership with Network Rail
Large private landlord Grainger has struck a new agreement with Network Rail and developer Bloc Group with an aim to deliver 2,000 build-to-rent (BTR) homes across six cities.
Under the deal, Network Rail will put potential brownfield sites it owns forward and get planning permission, with Grainger then forward-funding schemes before taking on ownership and operations.
Blocwork, a pre-existing joint venture between Network Rail and Bloc, will act as developer on the sites.
Grainger already has a 5,400-home pipeline of BTR projects, as it looks to capitalise on the growing sector.
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Figures published in the summer showed, overall, there are around a quarter of a million BTR properties in the pipeline, but “challenging” market conditions have slowed output sharply.
Grainger’s new partnership builds on The Barnum, a 348-home BTR scheme in Nottingham the three organisations have already completed.
Helen Gordon, Grainger’s chief executive, said: “We see this as a great opportunity to collaborate further and deliver a potential 2,000 much-needed, high-quality rental homes across the country, aligned to our city strategy.
“This partnership supports Grainger’s ambitious growth plans and provides exclusive access to superbly located and well-connected sites.”
Robin Dobson, group property director at Network Rail, added: “As the largest owner of infrastructure-led brownfield land in the UK, the creation of this partnership demonstrates our continued drive to work with strategic partners to unlock opportunities to deliver well-designed and well-connected homes and regenerate towns and cities.”
Last year, Grainger registered a for-profit provider as part of a long-term joint venture with Transport for London. The entity, Connected Living London, was originally established in 2019 with the aim of developing over 3,000 BTR homes.
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