Grainger plc

Grainger plc
Public (LSE: GRI)
Industry Property
Founded 1912
Headquarters Newcastle upon Tyne, UK
Key people
 Baroness Ford, Chairman
Helen Gordon, CEO
Vanessa Simms, Finance Director
Nick Jopling, Executive Director for Property
Revenue £264.7 million (2017)[1]
£104.6 million (2017)[1]
£73.5 million (2017)[1]
Subsidiaries Grainger Residential Management Limited
Bridgewater Equity Release
Website www.graingerplc.co.uk

Grainger plc (LSE: GRI) is a British-based residential property business. It is headquartered in Newcastle upon Tyne and is a constituent of the FTSE 250 Index.

History

The business was established by the Dickinson family in 1912 as the Grainger Trust to acquire tenanted residential properties in Newcastle upon Tyne. In the 1970s and 1980s it acquired large residential estates from British Coal, British Rail and Reckitt & Coleman. It was first listed on the London Stock Exchange in 1983. In 1989 it acquired Channel Hotels & Properties and in 2003 it acquired Bradford Property Trust.[2]

In 2006 it entered into a joint venture with Development Securities to develop Curzon Park in Birmingham.[3] In 2007 it changed its name to Grainger plc. In 2008 a consortium of Helical Bar and Grainger was named as the preferred developer for the King Street regeneration scheme in Hammersmith.[4] In 2010, Grainger acquired AIM-listed Sovereign Reversions, an equity release provider, and subsequently formed a 50:50 joint venture with Moorfield, a UK real estate investor, developer and private equity fund manager.[5]

In 2011 the company entered into a development agreement with the Defence Infrastructure Organisation to create the Wellesley Development, which incorporates the Cambridge Military Hospital at Aldershot and which will generate 3,850 homes.[6]

Operations

The Smith Dorrien Building in Aldershot, built in 1908 as an entertainment facility for soldiers and which Grainger now uses as offices for the Wellesley project, a major residential development

The Company is organised as follows:

  • UK - 14,000 properties
  • Germany - 7,000 properties
  • Fund management
  • Property management
  • Development
  • Retirement Solutions, including Bridgewater Equity Release, a leading equity release provider

As at 30 September 2017 its investment portfolio was valued at £391 million and its development and trading portfolio was valued at £841 million.[1]

References

  1. 1 2 3 4 "Annual Report 2017" (PDF). Grainger plc. Retrieved 25 March 2018.
  2. ↑ "Grainger to take full control of BPT". Retrieved 9 April 2016.
  3. ↑ Grainger, Development Securities buy Birmingham site for 33.5 mln stg - Hemscott
  4. ↑ "King Street Regeneration breathing life into Hammersmith". London Borough of Hammersmith and Fulham.
  5. ↑ journallive Administrator (23 August 2010). "Grainger Homes forms joint venture". journallive. Retrieved 28 March 2015.
  6. ↑ "Wellesley garrison site homes going on sale in Aldershot". Get Hampshire. 24 June 2015. Retrieved 17 April 2017.
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