LONDON (dpa-AFX) - Grainger PLC (GRI.L), a provider of private rental homes, Monday said its like-for-like rental growth for the full year stood at 6.3 percent, down from 7.7 percent a year ago.
Private rented sector (PRS) like-for-like rental growth declined to 6.3 percent from 8 percent last year.
Occupancy as on September 30, 2024 was 97.4 percent compared with 98.6 percent a year ago.
'Grainger has delivered double digit rental income growth this year in line with expectations, with strong like-for-like rental growth at 6.3% and whilst we expect rental growth to ameliorate somewhat, we still expect levels to be above the long term historic average for FY25. This growth is supported by our rapidly growing portfolio, with over 1,100 homes added to our portfolio this year and a pipeline which will double our rental income when compared with FY23,' said Helen Gordon, Chief Executive.
The company also said that its conversion to REIT remains on track for October 25.
Grainger is scheduled to report its full-year results on November 21.
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