Company Announcements

9 July 2025

Grainger plc

Oxford's first BTR scheme achieves rapid c.60% lease up in 3 months

§  Reinforces Grainger's strategic investment in Oxford

§  Highlights market-leading operational platform

Grainger plc, the UK's largest listed residential landlord and leader in the Build to Rent (BTR) sector with over 11,000 rental homes and a pipeline of c.£1.3bn comprising c.4,500 BTR homes, is pleased to announce a significant operational milestone at The Kimmeridge, one of its flagship developments, the first and only BTR scheme in Oxford. Since launching at the start of March 2025, The Kimmeridge, which comprises 150 BTR homes, has achieved c.60% lease-up in just three months, well ahead of expectations and underwriting. This rapid absorption rate highlights the strong demand for Grainger's high-quality rental homes and the depth of its operational expertise.

Helen Gordon, Chief Executive, said:

"We are absolutely delighted with the exceptional lease-up performance at The Kimmeridge. To achieve c.60% lease-up in just three months is an outstanding result, reflecting the compelling demand for our high-quality rental homes in Oxford and the strength of our inhouse leasing capabilities.

"As the first and only Build to Rent scheme in Oxford, The Kimmeridge demonstrates Grainger's continued leadership in the sector. This success is underpinned by our market-leading operating platform, the dedication of our on-site teams, and the excellent customer experience we consistently deliver. It validates our investment in Oxford, a key location for Grainger, and strengthens our confidence in continuing to invest in our target locations and delivering strong rental growth."

Situated to the west of Oxford city centre, The Kimmeridge has quickly become one of the city's most sought-after addresses. The BTR development has over 2,000 sq ft of shared amenity space for residents, including a state-of-the-art 24/7 gym, a residents' lounge with dining area and kitchenette, flexible co-working zones with private meeting pods, a landscaped courtyard and an expansive rooftop terrace. Residents also benefit from free superfast broadband and the support of a dedicated on-site resident services team.

The exceptional performance at The Kimmeridge provides compelling evidence of Grainger's market leading position in this strong, and growing, market for high-quality, professionally managed rental homes. This leasing milestone reinforces Grainger's focused strategy to deliver long-term, compounding returns and progressive dividends for its shareholders, by leveraging its £1.3bn BTR pipeline, comprising approximately 4,500 homes, to address the growing rental housing needs in key cities across the UK.

-ENDS-

For further information, please contact:

Investor Relations

Kurt Mueller, Director of Corporate Affairs, Grainger plc:            +44 (0) 20 7940 9500

Media

Valentine Agamah, Head of Communications, Grainger plc:      +44 (0) 20 7940 9500

Ginny Pulbrook / Geoffrey Pelham-Lane, Camarco:                    +44 (0) 20 3757 4992 / 4985                                         

Notes to editor

Visit The Kimmeridge website to see images of the scheme: The Kimmeridge

Take a virtual tour of The Kimmeridge: The Kimmeridge - Virtual Tour

Visit Grainger's website to see its national portfolio of Build to Rent homes: www.graingerplc.co.uk

About Grainger plc

Founded in Newcastle upon Tyne in 1912, Grainger plc, a FTSE 250 business, is the UK's largest listed residential landlord and leader in the fast-growing build-to-rent sector, providing c.11,100 rental homes to over 25,000 customers. With a pipeline of secured build-to-rent development projects totalling c.4,500 homes and £1.3bn, Grainger is creating thousands more rental homes by investing in cities across the UK.

Grainger works in partnership with a large number of public sector organisations to deliver new homes to local communities, including Transport for London, Network Rail, the Ministry of Defence, Lewisham Borough Council and the Local Pensions Partnership.

Grainger's build-to-rent developments provide a range of customer benefits from professional on-site resident services teams, resident amenities including gyms, residents' lounges, roof terraces, meeting rooms and co-working space for those working from home, and superfast 250MB fibre optic broadband.

Recognised as a FTSE4Good business, Grainger also takes a leading approach to sustainability, specifically Environmental and Social issues (ESG) and has an ambitious target to be net zero carbon in the operations of its buildings by 2030, to have a diverse and inclusive workforce and to make a positive social impact in locations where it invests and operates.