Grainger plc appoints Rund on its first Build to Rent project in Nottingham
Rund Partnership will be working on long-term client, Grainger’s first investment in Nottingham – a £55.5m Build to Rent development next to Nottingham train station.
A valued client of ours for the past 5 years, Grainger, the UK’s largest listed residential landlord, is forward-funding the 348-home Build to Rent development on Queen’s Road, which is being developed by Blocwork – a 50:50 joint venture between Network Rail and Block Group to develop national rail side sites. Grainger has appointed Rund as a dedicated independent project monitor, with our scope of work covering management of multiple risk assessment factors, including quality control, financial and technical review.
Rund is working on a number of Build to Rent developments and our many years of experience in the sector led Grainger to commission our expertise for this project. In fact, it is the largest of three simultaneous Build to Rent projects Rund is currently working on with Grainger.
Work in Nottingham is expected to begin this year and complete by early 2024, and in addition to providing quality homes for rent, the development will include a range of resident amenities, including: residents’ lounge, roof terrace, gym and a café.
The Nottingham project follows recent research from CBRE, revealing Nottingham as one of the top 20 future rental hotspots. The data predicted a Built to Rent boom in various cities across the country, as demand has soared for rental housing over the past year.
Phil Smith, Associate Director at Rund Partnership said: “We are in the midst of a very exciting time for the Build to Rent sector. Nottingham has become a thriving university city, with great transport links and plenty of graduates looking for housing, so naturally, Grainger’s latest project will benefit many young professionals and students in the city. We are looking forward to getting started and using our wealth of Build to Rent expertise to drive this project forwards.”
Katherine Stephens, Development Manager at Grainger plc said: “Nottingham has been a key target city for Grainger for some time owing to its strong growth prospects and existing provision. Rund’s expertise will be essential in delivering high-quality homes and resident amenity space for hundreds of prospective renters.”