Grainger, the listed residential landlord, has acquired a site in Sheffield for build-to-rent development.
Brook Place 2 in Sheffield could deliver up to 250 PRS homes, subject to amendments to the existing planning consent.
The site is adjacent to Grainger’s successful Brook Place scheme, which opened in 2019 and is now a stabilised and established operational build-to-rent community comprising 237 PRS homes.
The news comes as Grainger also acquires Exmouth Junction in Exeter, which has planning consent for 230 homes.
Helen Gordon, Chief Executive Officer of Grainger, said: “We are pleased to acquire these two development sites in Exeter and Sheffield, leveraging our in-house development capabilities and aligned to our national growth strategy. Both cities are very attractive from a build-to-rent investment perspective and will perfectly complement our growing portfolio.”