Grainger gets permission for Lambeth redevelopment

Grainger said it had received planning permission to redevelop one of its housing estates in the London borough of Lambeth to supply 215 homes.

The project, close to Waterloo station, will increase the number of homes at the OCCC estate from 69, including 33 new homes for long-term protected tenants and 36 affordable homes. It will have new office space for local businesses and rehearsal space for the nearby Old Vic theatre.

The FTSE 250 company is Britain's biggest listed residential landlord. It has a pipeline of more than 4,500 new homes in London including over 3,000 in a joint venture with Transport for London.

Chief executive Helen Gordon said: "This [decision] is especially pleasing as it endorses Grainger's ability to recycle its property assets to not only provide a greater volume of new PRS [private rented sector] homes in London but to provide new housing for our current regulated tenancy residents in Waterloo.

"Looking ahead to 2020, Grainger's PRS pipeline and schemes to build circa 9,104 homes are continuing to gain momentum; regional city clusters are being increased and new PRS opportunities are forthcoming."