Oxford scheme achieves c.60% lease up in 3 months

§ Highlights market-leading operational platform

Grainger plc, the UK's largest listed residential landlord and leader in the Build to Rent (BTR) sector with over 11,000 rental homes and a pipeline of c.£1.3bn comprising c.4,500 BTR homes, is pleased to announce a significant operational milestone at The Kimmeridge, one of its flagship developments, the first and only BTR scheme in Oxford. Since launching at the start of March 2025, The Kimmeridge, which comprises 150 BTR homes, has achieved c.60% lease-up in just three months, well ahead of expectations and underwriting. This rapid absorption rate highlights the strong demand for Grainger's high-quality rental homes and the depth of its operational expertise.

Helen Gordon, Chief Executive, said:

"We are absolutely delighted with the exceptional lease-up performance at The Kimmeridge. To achieve c.60% lease-up in just three months is an outstanding result, reflecting the compelling demand for our high-quality rental homes in Oxford and the strength of our inhouse leasing capabilities.

"As the first and only Build to Rent scheme in Oxford, The Kimmeridge demonstrates Grainger's continued leadership in the sector. This success is underpinned by our market-leading operating platform, the dedication of our on-site teams, and the excellent customer experience we consistently deliver. It validates our investment in Oxford, a key location for Grainger, and strengthens our confidence in continuing to invest in our target locations and delivering strong rental growth."

Situated to the west of Oxford city centre, The Kimmeridge has quickly become one of the city's most sought-after addresses. The BTR development has over 2,000 sq ft of shared amenity space for residents, including a state-of-the-art 24/7 gym, a residents' lounge with dining area and kitchenette, flexible co-working zones with private meeting pods, a landscaped courtyard and an expansive rooftop terrace. Residents also benefit from free superfast broadband and the support of a dedicated on-site resident services team.

The exceptional performance at The Kimmeridge provides compelling evidence of Grainger's market leading position in this strong, and growing, market for high-quality, professionally managed rental homes. This leasing milestone reinforces Grainger's focused strategy to deliver long-term, compounding returns and progressive dividends for its shareholders, by leveraging its £1.3bn BTR pipeline, comprising approximately 4,500 homes, to address the growing rental housing needs in key cities across the UK.