Grainger set to gain from slump

Britain’s biggest residential landlord Grainger said yesterday it plans to cash in on the wilting housing market by buying up discount real estate. The firm, which has around £2.8bn of assets under management, bought £154.8m of properties in the past ten months, with a further £67.6m of buys in the pipeline. It sold 593 vacant units at a sales margin of 42.6 per cent. The firm also completed its purchase of Sovereign Reversions, snapping up the equity release adviser for £34.6m.