Grainger deal to fund 2,000 rental homes on Network Rail sites

Aaron Morby 2 years ago
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Private rental flats investor Grainger has agreed a partnership with Network Rail and Bloc Group to deliver up 2,000 new purpose-built rental homes at sites in major cities across the country.

The Barnum project in Nottingham built by contractor Graham for Network Rail, Bloc and Grainger
The Barnum project in Nottingham built by contractor Graham for Network Rail, Bloc and Grainger

In this new partnership, Network Rail and Bloc Group’s already established Blocwork joint venture will bring forward potential sites for build-to-rent with Grainger involved in design consultation.

Once planning approval is secured, Grainger will forward fund the scheme and ultimately own and operate the completed schemes.

The partnership deal comes off the back of a tie-up between the three on the recently completed a 348-home build-to-rent scheme in Nottingham, known as The Barnum, which was built by contractor Graham.

The selection of the brownfield sites for development follows other successfully completed wider station developments that have been brought forward in major cities.

Helen Gordon, CEO at Grainger, said: “Having successfully delivered The Barnum, a build-to-rent scheme of 348 homes, with the Network Rail and Bloc jv ‘blocwork’, 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 access to superbly located and well-connected sites”.

 

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