Residential landlord – Grainger plc – has achieved a record lease-up for Gatehouse Apartments, its first Build to Rent development in Southampton. Launched at the end of March 2021, the Southampton city centre scheme is now fully leased after just over three months – and over eight months ahead of the anticipated 12-month lease-up programme.
Gatehouse Apartments includes 132 homes – a mix of one and two bedroom Build to Rent apartments. Located on East Street, amenities include a 24-hour gym, co-working space, lounge, private dining area and a roof terrace with views across the city. Free superfast 250mbps wi-fi is also available throughout the development, and Grainger’s inhouse Resident Services team are available to help residents.
“Our Gatehouse Apartments development in Southampton has performed remarkably well and significantly ahead of schedule and expectations, both in terms of timing and rental performance. As we emerge from lockdown, we are seeing many positive signs across the board in terms of enquiry levels, reaffirming the strong fundamentals of the sector and an enduring demand for well-managed, high quality rental homes. We look forward to welcoming our newest residents in Southampton, Salford, Leeds and London over the coming months.”Helen Gordon, Chief Executive, Grainger plc
Gatehouse Apartments is the first of five Build to Rent developments – totalling c.1,000 homes – Grainger is delivering this year, with a scheme in Greater Manchester and Leeds and two developments in North London – all either currently in lease-up or launching imminently.
Demand for The Filaments, a 386-home Build to Rent development in Salford, Greater Manchester, is also proving strong. Launched in April 2021, Grainger unveiled first views of The Filaments in June 2021 and the scheme is now over 40% leased-up and progressing well ahead of schedule.
Recent weeks have seen significant uplift in both enquiry and sign-up levels across Grainger’s portfolio, with many positive signs for the recently launched Windlass Apartments and Apex Gardens developments in Tottenham, London, and the upcoming launch of The Headline in Leeds.
In addition to the c.1,000 new Build to Rent homes to be delivered this year, Grainger has a further c.8,850 homes in its development pipeline, which will see the residential landlord double in size over the next five years.