Grainger plc
{{Short description|British residential property firm}}
{{Infobox company
| name = Grainger plc
| logo = Grainger logo.svg
| type = Public
| traded_as = {{ubl|{{lse|GRI}}|FTSE 250 component}}
| foundation = 1912
| location = Newcastle upon Tyne, UK
| key_people = Mark Clare, (chairman)
Helen Gordon, (CEO)
| industry = Property
| products = Private rented sector
| revenue ={{increase}} £290.1 million (2024){{cite web|url=https://corporate.graingerplc.co.uk/sites/graingerplc-corp/files/2024-12/Grainger_ARA24_Final_Proof_24.12.02.pdf|title=Annual Report 2024|publisher=Grainger plc|access-date=10 February 2025}}
| operating_income ={{decrease}} £119.1 million (2024)
| net_income ={{increase}} £31.2 million (2024)
| num_employees =
| parent =
| subsid =
| homepage = [http://www.graingerplc.co.uk www.graingerplc.co.uk]
| caption =
| footnotes =
}}
Grainger plc 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.{{cite web|url=http://connection.ebscohost.com/c/articles/11495406/grainger-take-full-control-bpt|archive-url=https://web.archive.org/web/20160419034651/http://connection.ebscohost.com/c/articles/11495406/grainger-take-full-control-bpt|url-status=dead|archive-date=19 April 2016|title=Grainger to take full control of BPT|access-date=9 April 2016}}
From 1987 to 2002, Quentin Wallop, 10th Earl of Portsmouth, was a non-executive director,{{cite web|url=http://citywire.co.uk/money/earl-of-portsmouth-cashes-in-at-grainger/a234982|title=Earl of Portsmouth cashes in at Grainger|date=26 February 2002|work=Citywire Money}} and as of 1999 he owned 16.55% of the equity, making him the firm's largest shareholder of the company.{{cite news |last1=Dodd |first1=Vikram |last2=White |first2=Michael |title=Earl of Portsmouth Mystery peer with the money |url=https://www.theguardian.com/uk/1999/dec/23/hamiltonvalfayed.michaelwhite |access-date=22 October 2019 |work=The Guardian |date=23 December 1999}}
In 2006 Grainger entered into a joint venture with Development Securities to develop Curzon Park in Birmingham.[http://www.hemscott.com/news/latest-news/item.do?newsId=37628208543155 Grainger, Development Securities buy Birmingham site for 33.5 mln stg] - Hemscott 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.{{cite web |url=http://www.lbhf.gov.uk/Directory/News_and_Media/Press_office/Press_releases/97305_King_Street_regeneration_Breathing_life_into_Hammersmith.asp |title=King Street Regeneration breathing life into Hammersmith |publisher=London Borough of Hammersmith and Fulham |access-date=2008-06-01 |archive-url=https://web.archive.org/web/20080516200237/http://www.lbhf.gov.uk/Directory/News_and_Media/Press_office/Press_releases/97305_King_Street_regeneration_Breathing_life_into_Hammersmith.asp |archive-date=2008-05-16 |url-status=dead }} 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.{{cite web|url=http://www.nebusiness.co.uk/business-news/latest-business-news/2010/08/23/grainger-forms-joint-venture-51140-27117698/|title=Grainger Homes forms joint venture|author=journallive Administrator|date=23 August 2010|work=journallive|access-date=28 March 2015}}
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.{{cite web|url=http://www.gethampshire.co.uk/news/property-news/wellesley-garrison-site-homes-going-9519088|title=Wellesley garrison site homes going on sale in Aldershot|work=gethampshire |date=24 June 2015|publisher=Get Hampshire|access-date=17 April 2017 |last1=Chapple |first1=James }} In 2019, Grainger was announced as the build-to-rent partner of Transport for London (TfL), which will build new homes on land in TfL's ownership, potentially delivering in excess of 3,000 homes across London.{{Cite web|date=1 April 2019|title=TfL appoints preferred Build to Rent Partner|url=https://tfl.gov.uk/info-for/media/press-releases/2019/april/tfl-appoints-preferred-build-to-rent-partner|access-date=2020-10-09|website=Transport for London|language=en-GB}}
Operations
File:Grainger offices on Queen's Road, Aldershot.jpg in Aldershot, built in 1908 as an entertainment centre for soldiers and which Grainger now uses as offices for the Wellesley project, a major residential development by Grainger plc]]
As at 30 September 2024 its investment portfolio was valued at £3.0 billion and its development and trading portfolio was valued at £0.3 billion.
References
{{reflist|30em}}
External links
- [http://www.graingerplc.co.uk Official website]
- [http://www.graingercr.com Grainger CR Report]
{{Real estate in the United Kingdom}}
{{FTSE 250 Index constituents}}
{{Authority control}}
Category:Companies based in Newcastle upon Tyne
Category:Real estate companies established in 1912
Category:Property companies of the United Kingdom
Category:Companies listed on the London Stock Exchange