Grainger plc

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Grainger plc
Type Public (LSEGRI)
Industry Property
Founded 1912
Headquarters Newcastle upon Tyne, UK
Key people Robin Broadhurst, Chairman
Andrew Cunningham, CEO
Mark Greenwood, Finance Director
Nick Jopling, Executive Director for Property
Revenue £283.2 million (2013)[1]
Operating income £103.6 million (2013)[1]
Net income £53.6 million (2013)[1]
Subsidiaries Grainger Residential Management Limited
Bridgewater Equity Release
Website www.graingerplc.co.uk

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

History[edit]

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.

In 2006 it entered into a joint venture with Development Securities to develop Curzon Park in Birmingham.[2] 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.[3] 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.[4]

Operations[edit]

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 2013 its investment portfolio was valued at £354m and its development and trading portfolio was valued at £950m.[1]

References[edit]

External links[edit]