Grainger launches its first build-to-rent development in Southampton
Friday May 14th, 2021
A major residential landlord has launched its first build-to-rent scheme in Southampton after identifying the city as one of 12 targets for investment.
Grainger PLC, the UK’s biggest listed residential landlord, has the first 31 homes ready for occupation at Gatehouse Apartments in East Street, Southampton.
The 132-home development consists of 46 one-bedroom and 86 two-bedroom apartments, with an in-house resident services team. Rents start at £950 a month and the larger two-bedroom flats have views of the cruise terminal and River Itchen.
There will be a 24-hour gym, co-working space, residents’ lounge and private dining area, as well as an outdoor terrace.
Grainger said it identified Southampton as one of 12 cities for long-term investment following extensive research.
Its chief executive, Helen Gordon, said: “The launch of our Gatehouse Apartments scheme in the centre of Southampton is an important milestone for Grainger. We identified the city for investment owing to its excellent potential and Gatehouse Apartments is one of Southampton’s first build to rent developments.
“We believe the high-quality finish and professionally managed service, delivered by the in-house Grainger team, will attract a range of residents from across the city and beyond.
“With Southampton being confirmed as one of the new Freeports and its bid for City of Culture 2025 under consideration, we see Southampton as a key destination for those looking to rent as a lifestyle choice. We look forward to welcoming our first residents in the next few weeks.”
Lauren Tompkins, Grainger’s Gatehouse Apartments residents service team manager, said: “This is a really exciting time for our team at Gatehouse Apartments and we’re working really hard to put the finishing touches to our homes and amenity spaces, ready for residents to enjoy. Initial feedback has been really positive, and we are looking forward to helping residents settle in and make a new home.”
The apartments were built by Portsmouth developer National Regional Property Group and contractor PMC Construction and were their second build-to-rent scheme in Southampton.
Shaun Adams, chief executive of National Regional Property Group, said at a recent handover: “With our continued focus on sustainable city centre development, the delivery of another build-to-rent scheme on the south coast is another milestone in Southampton’s ongoing redevelopment. Gatehouse Apartments is a landmark building, designed to give residents quality living and community space.”