Grainger plc
Encyclopedia
Grainger plc 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.
. 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
. 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
. 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.
As at 30 September 2010 its investment portfolio was valued at £634m and its development and trading portfolio was valued at £990m.
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
-based residential property business. It is headquartered in Newcastle upon Tyne
Newcastle upon Tyne
Newcastle upon Tyne is a city and metropolitan borough of Tyne and Wear, in North East England. Historically a part of Northumberland, it is situated on the north bank of the River Tyne...
and is a constituent of the FTSE 250 Index
FTSE 250 Index
The FTSE 250 Index is a capitalisation-weighted index consisting of the 101st to the 350th largest companies on the London Stock Exchange. Promotions to and demotions from the index take place quarterly in March, June, September and December...
. Grainger has approximately £2.1 billion of wholly owned property assets and £2.8 billion of assets under management
Assets under management
Assets under management is a financial term used denote the market value of funds being managed by a financial instutition on behalf of its clients, investors, depositors, etc. This metric is a sign of size and success against competition...
. 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.
History
The business was established by the Dickinson family in 1912 as the Grainger Trust to acquire tenanted residential properties in Newcastle upon TyneNewcastle upon Tyne
Newcastle upon Tyne is a city and metropolitan borough of Tyne and Wear, in North East England. Historically a part of Northumberland, it is situated on the north bank of the River Tyne...
. In the 1970s and 1980s it acquired large residential estates from British Coal
British Coal
thumb|right|British Coal company logoThe British Coal Corporation was a nationalised corporation in the United Kingdom responsible for the extraction of coal...
, British Rail
British Rail
British Railways , which from 1965 traded as British Rail, was the operator of most of the rail transport in Great Britain between 1948 and 1997. It was formed from the nationalisation of the "Big Four" British railway companies and lasted until the gradual privatisation of British Rail, in stages...
and Reckitt & Coleman
Reckitt Benckiser
Reckitt Benckiser plc is a global consumer goods company headquartered in Slough, United Kingdom. It is the world's largest producer of household products and a major producer of consumer healthcare and personal products...
. It was first listed on the London Stock Exchange
London Stock Exchange
The London Stock Exchange is a stock exchange located in the City of London within the United Kingdom. , the Exchange had a market capitalisation of US$3.7495 trillion, making it the fourth-largest stock exchange in the world by this measurement...
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
Birmingham
Birmingham is a city and metropolitan borough in the West Midlands of England. It is the most populous British city outside the capital London, with a population of 1,036,900 , and lies at the heart of the West Midlands conurbation, the second most populous urban area in the United Kingdom with a...
. In 2007 it changed its name to Grainger plc. In 2008 a consortium of Helical Bar
Helical Bar
Helical Bar plc is a leading British-based property business. It is headquartered in London and is a constituent of the FTSE SmallCap Index.-History:...
and Grainger was named as the preferred developer for the King Street regeneration scheme in Hammersmith
Hammersmith
Hammersmith is an urban centre in the London Borough of Hammersmith and Fulham in west London, England, in the United Kingdom, approximately five miles west of Charing Cross on the north bank of the River Thames...
. In 2010, Grainger acquired AIM-listed Sovereign Reversions, an equity release
Equity release
Equity release is a means of retaining use of your house or other object which has capital value, while also obtaining a lump sum or a steady stream of income, using the value of the house....
provider, and subsequently formed a 50:50 joint venture with Moorfield, a UK real estate investor, developer and private equity fund manager.
Operations
The Company is organised as follows:- UKUnited KingdomThe United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
- 14,000 properties - GermanyGermanyGermany , officially the Federal Republic of Germany , is a federal parliamentary republic in Europe. The country consists of 16 states while the capital and largest city is Berlin. Germany covers an area of 357,021 km2 and has a largely temperate seasonal climate...
- 7,000 properties - Fund management
- Property management
- Development
- Retirement Solutions, including Bridgewater Equity Release, a leading equity release provider
As at 30 September 2010 its investment portfolio was valued at £634m and its development and trading portfolio was valued at £990m.