Grainger JV Acquires 195‑Home Build to Rent Scheme

Grainger plc ("Grainger"), the UK's largest listed residential landlord, is pleased to announce that Connected Living London (CLL), its partnership with Places for London, the property arm of Transport for London (TfL), has agreed to forward fund and acquire a 195-home Build to Rent (BTR) scheme at Chiswick Reach, Bollo Lane, West London to be developed in partnership by Barratt Redrow PLC.

The scheme, which is a new addition to the Grainger-Places for London joint venture's pipeline, has detailed planning consent and Gateway 2 approval from the Building Safety Regulator to commence construction. The scheme will deliver 195 new BTR homes, including 95 Discounted Market Rent homes. The development will also include 4,299 sq ft of high quality commercial space and 5,499 sq ft of internal amenity space for residents including co-working space and a gym.

The purchase price for the scheme is c.£68.4 million (split 51:49 between Grainger and Places for London as per the CLL structure), with the development expected to generate returns in line with Grainger's target range for London schemes with Grainger also receiving asset management fees.

Chiswick Reach is well-connected, located on former railway land on Bollo Lane, West London, and is an 8-minute walk to Chiswick Park (District Line) and South Acton (Overground) stations. The site expands Grainger's West London cluster.

This marks Grainger's first BTR collaboration with a major UK housebuilder.

Construction is expected to commence in Q1 2026 and practical completion is anticipated in late 2028 with leasing to begin in late 2028 / early 2029.

Helen Gordon, Chief Executive of Grainger, commented:

"We are pleased to announce this strategic milestone in our partnership with Places for London, a new scheme in our JV's pipeline with construction commencing imminently, delivering 195 high quality rental homes in a well-connected West London location. Working alongside Barratt Redrow on this project represents an exciting development in our approach to delivery partners, opening potential new avenues for collaboration with major housebuilders as we continue to expand our build-to-rent portfolio across the UK.

"This scheme further strengthens our London portfolio, complements our growing cluster in West London and demonstrates continued momentum in Connected Living London, our partnership with Places for London, delivering professionally managed, purpose-built rental homes across the capital."

About Connected Living London

Connected Living London is a partnership between Grainger plc and Transport for London (TfL)'s property arm, Places for London, to deliver quality rental homes across the capital, with a focus on transport hub locations.