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Grainger acquires asset in Newcastle for £57 million

By BFN News | 07:21 AM | Friday 11 June, 2021


Listed residential landlord Grainger said it had acquired The Forge, an asset comprising 283 rental apartments and a ground floor commercial unit for £57 million from Moorfield Real Estate Fund III. The purchase price represented a gross yield of about 6.25%, which Grainger expects to manage in line with its standard rental margin of over 75%. 'The asset is very well located on Forth Banks in the city centre, with a WalkScore of 91, described as a 'walker's paradise', with a wide range of amenities, local services and public transport links nearby,' the company said. Story provided by StockMarketWire.com

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