Grainger sees a house sale jump

PROPERTY developer Grainger yesterday said its sales were up by almost a quarter to £223m in the year to September, as sales of property occupied by businesses rose 60 per cent.

Grainger, the UK’s biggest listed property owner, said its margins were better than in 2010 and it had started the new financial year with a £34m pipeline of new sales. Rents had seen “a significant increase” in the past year, it added, while values of the properties sold on its land were 1.2 per cent higher than in 2010, in contrast to falls in UK-wide housing indices.