Grainger sales up 13 per cent

Kasmira Jefford
Follow Kasmira
RESIDENTIAL landlord Grainger yesterday revealed property sales totalling £202.1m in the 10 months to July 2012, up 13 per cent on the previous year, as it continued to pay down debt.

In an interim management statement, Chief Executive Andrew Cunningham, said the group continued to outperform the general residential market, with gross rents increasing by around 7.2 per cent to £75.1m for the 10 months, and fee income rising 56 per cent to £7.8m.

It has a pipeline of sales of £264.5m, up from £235.7m in the same period last year. Acquisitions amounted to only £21.4m.