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BRIEF-Property owner Grainger Plc to invest 76 mln stg in UK
February 2, 2015 / 7:27 AM / 3 years ago

BRIEF-Property owner Grainger Plc to invest 76 mln stg in UK

Feb 2 (Reuters) - Grainger Plc

* Acquisition

* Invests £76m into uk regions including a major regional residential portfolio for £58m

* Has exchanged contracts for acquisition of a regional tenanted residential property portfolio for c.£58m from sarunas properties limited, a company owned by pervaiz naviede family trust

* Transaction brings company’s total investment into residential assets in uk regions to c.£76m in recent months, and represents over 900 residential units

* Purchase price of portfolio is investment value of properties at date of acquisition and represents a discount to their c.£66m vacant possession value

* Portfolio presently generates an annual gross rent of c.£4.5m Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +91 80 6749 1136)

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