• Text size      
  • Send this article to a friend
  • Print this article

Grainger sells homes for £87m

RESIDENTIAL property owner Grainger has sold a portfolio of 1203 homes across the UK for £87.6 million.

Grainger said the agreement with Clifden Holdings will generate pre-tax profit of £9.9m.

It is also entering into a property management contract for the properties, all part of its retirement solutions division, which will bring in annual fees of more than £600,000.

Clifden is paying £52.6m in cash up front with the remainder due over the next 12 months.

Contextual targeting label: 

Commenting & Moderation

We moderate all comments on HeraldScotland on either a pre-moderated or post-moderated basis.
If you're a relatively new user then your comments will be reviewed before publication and if we know you well and trust you then your comments will be subject to moderation only if other users or the moderators believe you've broken the rules

Moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours. Please be patient if your posts are not approved instantly.