Grainger : Lewisham Council and Grainger plc joint venture

8 November 2018

Grainger plc

('Grainger', the 'Company', the 'Group')

Lewisham Council and Grainger plc launch joint venture for PRS development in New Cross Gate

Lewisham Council and Grainger plc, one of the UK's largest listed residential landlords, have formally launched a partnership to deliver up to 300 new purpose-built private rented sector ('PRS') homes at Besson Street in New Cross Gate.

The partnership includes the creation of a new 50/50 joint venture company, Lewisham Grainger Holdings LLP. The joint venture will deliver a ground-breaking new rental housing scheme that includes 35% affordable homes let at 'London Living Rent' and long-term tenancies for Lewisham residents.

The development, which will be owned by Lewisham Grainger Holdings LLP and managed by Grainger, will comprise up to 300-purpose-built private rented homes, a new GP surgery and pharmacy for the local community, new office space for the New Cross Gate Trust, and an outdoor gym.

Helen Gordon, Chief Executive of Grainger, said:

'We are pleased to launch this long-term partnership with Lewisham Council for our proposed development at Besson Street. This is an excellent project that will deliver high quality homes and several additional facilities for the local community. Upon completion, residents will benefit from new homes and also Grainger's commitment to customer service and expertise as the market leader in modern homes for rent'

Lewisham Council and Grainger will now move onto the next phase of the project, with a planning submission expected in 2019.

- Ends -

For more information contact:

Grainger plc

Kurt Mueller/Julie Deighton

[e-mail]

Tel: [phone]

Camarco (Grainger PR)

Ginny Pulbrook / Geoffrey Pelham-Lane

Tel: [phone]/4985

Lewisham Council

Joe Derrett

[e-mail]

Tel: [phone]

Notes to editors:

About Grainger plc

Established in Newcastle upon Tyne in 1912, Grainger is the UK's largest listed residential landlord and a market leader in the UK build to rent and private rented sector (PRS).

Grainger's existing portfolio extends to c.9000 rental homes located throughout the UK. As part of ambitious growth plans, Grainger is investing £1.2bn into PRS in the UK by 2020, which will deliver 5,000 new homes.

A multiple award-winning business, Grainger is a leader in corporate responsibility and sustainability.