The UK's largest listed residential landlord Grainger announced this week that it has formed a joint venture with Network Rail and Bloc Group to deliver more than 2,000 new rental homes across major cities nationwide.
In this new partnership, called Blocwork, Network Rail will bring forward potential sites for build-to-rent from its property portfolio and with the Blocwork JV as developer, will take the schemes through the planning process, with Grainger actively involved in design proposals.
Once planning approval is secured, Grainger will forward fund the scheme and ultimately own and operate the completed schemes.
The selection of the brownfield sites for development follows other wider station developments that have been brought forward in major cities. These sites provide excellent transport connections for future residents and align closely to the partners' strategy of delivering housing that creates long term value and delivers sustainable regeneration, Grainger said.
Network Rail, Bloc Group and Grainger have recently completed The Barnum, a highly successful 348-home build-to-rent scheme in Nottingham, with blocwork as developer and Grainger as investor, funding the development and operating it upon completion.
Helen Gordon, CEO at Grainger, said: 'Having successfully delivered The Barnum, a build-to-rent scheme of 348 homes, with the Network Rail and Bloc Joint Venture 'blocwork', we see this as a great opportunity to collaborate further and deliver a potential 2,000 much needed high quality rental homes across the country, aligned to our city strategy. This partnership supports Grainger's ambitious growth plans and provides access to superbly located and well-connected sites.'