| Type | Public (LSE: GRI) |
|---|---|
| Industry | Property |
| Founded | 1912 |
| Headquarters | Newcastle upon Tyne, UK |
| Key people | Robin Broadhurst, Chairman Andrew Cunningham, CEO Peter Couch, Chief Operating Officer Mark Greenwood, Finance Director Nick Jopling, Executive Director for Property |
| Revenue | £244.5 million (2010)[1] |
| Operating income | £85.7 million (2010)[1] |
| Net income | £(10.8) million (2010)[1] |
| Subsidiaries | Grainger Residential Management Limited Bridgewater Equity Release |
| Website | www.graingerplc.co.uk |
Grainger plc (LSE: GRI) is a leading British-based residential property business. It is headquartered in Newcastle upon Tyne and is a constituent of the FTSE 250 Index. Grainger has approximately £2.1 billion of wholly owned property assets and £2.8 billion of assets under management. Grainger is also the property manager for approximately 26,400 properties in the UK and Germany.
Grainger owns, acquires and trades regulated and market-let tenanted properties and has a substantial portfolio of home reversion properties. Grainger undertakes fund, property and asset management along with residential-led development.
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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]
The Company is organised as follows:
As at 30 September 2010 its investment portfolio was valued at £634m and its development and trading portfolio was valued at £990m.[1]