Grainger plc, the UK’s largest listed residential landlord with over 10,000 operational rental homes, has announced that it has agreed to enter a partnership with ‘blocwork’, Network Rail’s joint venture with the Bloc Group.
The partnership has the potential to deliver over 2,000 new purpose-built rental homes across sites in major cities in Great Britain.
Network Rail, Bloc Group and Grainger have recently completed The Barnum, a highly successful 348-home build-to-rent scheme in Nottingham, with blocwork as developer and Grainger as investor, funding the development and operating it upon completion.
In this new partnership, Network Rail will bring forward potential sites for build-to-rent from its extensive, well located, property portfolio and with the blocwork JV as developer, will take the schemes through the planning process, with Grainger actively involved in design proposals. Once planning approval is secured, Grainger will forward fund the scheme and ultimately own and operate the completed schemes.
The selection of the brownfield sites for development follows other successfully completed wider station developments that have been brought forward in major cities. These sites provide excellent transport connections for future residents and align closely to the partners’ strategy of delivering housing that creates long term value and delivers sustainable regeneration.
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 Joint Venture ‘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”.
Robin Dobson, Group Property Director at Network Rail, said: “Following the success of The Barnum in Nottingham with Grainger, this partnership is the natural next step to accelerate the delivery of new homes for communities. As the largest owner of infrastructure-led brownfield land in the UK, the creation of this partnership demonstrates our continued drive to work with strategic partners to unlock opportunities to deliver well designed and well-connected homes and regenerate towns and cities.”
Richard Thomas, Development Director of bloc, said: “The successful delivery of The Barnum in Nottingham with Network Rail and Grainger demonstrated how well this partnership works together. We look forward to continued success by working together with our partners to deliver high quality schemes and a significant number of new homes on brownfield sites across the UK.”
Photo credit: Network Rail
