Partner Article

Grainger sees market recovery continue

THE UK’S largest residential landlord today said it would remain to operate prudently as it reported a marked upturn in the year ending 30 September.

In a trading update, Newcastle-based Grainger said sales in the period would stand at £110m, compared to £109m in 2009, while its sales pipeline is up £4m on last year to £29m.

“We remain realistic in our view that the near term outlook for the UK housing market and the wider economy will continue to be challenging,” the company said.

“However, we are confident in our ability to achieve outperformance through the proactive management of our portfolios, including pre-sale refurbishment where appropriate.

“Our confidence is borne out by the sales results we have achieved in the year. Completed normal sales were some 7.4% above September 2009 vacant possession values (2009: 7.5% below).”

This was posted in Bdaily's Members' News section by Ruth Mitchell .