Topping out of second Guildford BTR scheme

Grainger plc, the UK's largest listed residential landlord and leader in the Build to Rent (BTR) sector, is pleased to announce the topping out of Alloy Apartments, the second phase of The Mint, marking a significant milestone in the delivery of 179 new rental homes.

The c.£75 million development, announced in 2024, forms part of Grainger's committed pipeline and remains on track for practical completion in early 2028, with homes expected to launch in mid-2028.

Together with Assay Apartments, the first phase of The Mint, the two developments will deliver 277 high-quality rental homes and represent more than £116 million of investment in Guildford. Assay Apartments continues to demonstrate strong underlying performance, ending FY26 fully occupied and delivering rental growth of 3.6%, providing further evidence of the attractive fundamentals of the Guildford rental market and reflecting Grainger’s strategy of investing in attractive, well-connected locations.

Alloy Apartments is one of three developments currently being delivered within Grainger's committed pipeline, which is expected to support the target 35% earnings growth by FY29.

Delivered in partnership with Solum, a joint venture between Platform4, Network Rail's property development company, and Kier Property, the scheme demonstrates how under-utilised land around transport hubs can be transformed into much-needed new homes while supporting wider regeneration and infrastructure improvements.

Construction is being undertaken by leading contractor JJ Rhatigan, whose expertise in delivering complex residential and mixed-use projects has helped drive progress on site and bring the development to this important milestone.

Located adjacent to Guildford Station, the development forms part of the wider £150 million regeneration of the station quarter, helping to transform a key gateway into the town and deliver new homes in a highly sustainable, well-connected location.

The development reflects Grainger's long-standing strategy of investing in well-connected locations with strong rental demand and reinforces the important role Build to Rent can play in increasing housing supply. The scheme also supports the Government's ambition to deliver more homes in sustainable locations close to public transport networks.

Dame Helen Gordon, Chief Executive of Grainger, commented:

"We are delighted to celebrate the topping out of our second Build to Rent scheme at Guildford Station alongside our partners Network Rail, Platform4, Solum and Kier Property.

"Reaching this milestone is a testament to the strength of our partnerships and the progress being made in delivering much-needed new homes in well-connected locations. As we continue to progress our committed development programme, Guildford is a great example of how public and private sector organisations can work together to unlock under-utilised land, support regeneration and deliver high-quality homes where people want to live."

Alan Peelo, Chief Financial Officer at Platform4, said:

“Our purpose is to turn ambition into reality - to help create places and see them take shape. Reaching this milestone reflects years of dedication, hard work and commitment. Ultimately, partnerships are judged by what they deliver, and this development is a great example of what can be achieved when we work together.”

Leigh Thomas, Group Managing Director of Kier Property and Head of Solum, added:

"Reaching the topping-out milestone is a proud moment for everyone involved. Through our partnership with Grainger, Network Rail and Platform4, we’re helping to bring 179 new rental homes to Guildford and make better use of land around the station. The development is an important part of the wider station-quarter regeneration, creating a well-connected place to live and supporting Guildford’s continued growth.”